'Brazil Cotton' Makes Trade Retaliation Operational

Law360, New York (November 10, 2009, 12:17 PM EST) -- In an arbitration panel decision handed down on Aug. 31, 2009, the World Trade Organization clarified how and to what extent the industries of a WTO-member government may be targeted for countermeasures when the government has provided WTO-illegal subsidies.

Brazil had been seeking $2.68 billion in countermeasures, threatening to "cross-retaliate" by targeting U.S. intellectual property rights and service businesses. However, the panel awarded only $294.7 million for fiscal year 2006.

The decision has interesting policy implications, particularly in relation to the pending WTO dispute settlement proceeding...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.