Brazil, US Agree To Cotton Feud Truce Until 2012

Law360, New York (June 17, 2010, 7:07 PM EDT) -- Brazil has backed an agreement to postpone retaliatory tariffs on scores of American products until 2012, marking a temporary truce in a long-running trade dispute over U.S. cotton subsidies, officials said Thursday.

The South American nation was preparing to levy countermeasures of more than $800 million on U.S. exports of cotton, cars and fruit, including $560 million set to go into effect Monday, and unspecified penalties on intellectual property rights, following a favorable ruling from the World Trade Organization.

Although Thursday's decision does not provide a...
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.