This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7582833.stm
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
US in '$4bn cotton row sanction' | US in '$4bn cotton row sanction' |
(about 3 hours later) | |
The US may face $4bn (£2.2bn) in annual trade sanctions for failing to scrap illegal subsidies paid to US cotton growers, a report suggests. | |
Brazil, which brought the case, has asked the World Trade Organization (WTO) to impose the punishment, officials told Associated Press. | Brazil, which brought the case, has asked the World Trade Organization (WTO) to impose the punishment, officials told Associated Press. |
A WTO panel upheld last year's ruling, that subsidies helped US cotton growers undercut foreign competitors. | A WTO panel upheld last year's ruling, that subsidies helped US cotton growers undercut foreign competitors. |
Brazil said that its farmers and those in West Africa had suffered most. | Brazil said that its farmers and those in West Africa had suffered most. |
It made reference to the $4bn figure in documents it filed to the WTO about three years ago. | It made reference to the $4bn figure in documents it filed to the WTO about three years ago. |
Squeezed out | Squeezed out |
At the time of the ruling being upheld, the US said it was "very disappointed". | At the time of the ruling being upheld, the US said it was "very disappointed". |
US cotton subsidies were one of the most contested issues in the Doha round of world trade talks. | US cotton subsidies were one of the most contested issues in the Doha round of world trade talks. |
Developing country producers, especially in Africa, say the US subsidies squeeze their own poor farmers out of the market. | Developing country producers, especially in Africa, say the US subsidies squeeze their own poor farmers out of the market. |
About $12.5bn was paid to American farmers by the US government between August 1999 and July 2003, Brazil had claimed. | About $12.5bn was paid to American farmers by the US government between August 1999 and July 2003, Brazil had claimed. |
Previous version
1
Next version