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Volume 17, Issue 47
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Monday, March 8, 2010
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U.S. to Propose Solution to Brazil Cotton Dispute; Sanctions List Expected March 8
Two senior U.S. officials will travel to Brazil the week of March 8 to submit a proposal for resolving a bilateral dispute over U.S. cotton subsidy programs. The visit comes as Brazil prepares to issue a final list of U.S. exports that could be subject to retaliatory sanctions in response to Washington’s failure to comply with a World Trade Organization ruling on the matter.
During a visit to Brazil last week, Secretary of State Hillary Clinton said the U.S. will be sending two officials to Brazil to “discuss a countervailing proposal” in the cotton subsidy dispute, although she provided no details. It is expected that those officials will be Commerce Secretary Gary Locke and Deputy National Security Adviser for International Economic Affairs Michael Froman, who were already scheduled to be in Brazil to participate in the U.S.-Brazil CEO Forum. “There is time for us to try to resolve this in a peaceful and productive way without any further action,” Clinton said. “There’s so much trade between our two countries, and it is an area of such potential growth between our two countries, that we hope we’re able to work through this issue and get to a resolution.”
The officials’ visit will come just as Brazil releases a final list of U.S. goods that could be subject to higher import duties in retaliation for Washington’s lack of compliance with a WTO ruling against its cotton subsidy programs. That list has been delayed several times and is now expected to be made public March 8. Press reports indicate that the list will cover about 100-120 goods worth as much as $560 million. However, Clinton said, the retaliatory tariffs will not take effect for 30 days, giving the two sides time to reach a negotiated solution.
In addition to the higher tariffs, Brazil has indicated an intent to suspend concessions on about $270 million worth of U.S. services and intellectual property rights. However, press reports state that Brazil is not expected to finalize its plans for this step until later in the month.
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