Thursday, September 25, 2008

And for more on the WTO ...

... check out this ASIL Insight on the latest development in the trade battle over cotton prices.
That battle began in the last decade, explains the author, Professor Karen Halverson Cross (left) of Chicago’s John Marshall Law School. Brazil complained that subsidies the United States paid its cotton farmers had violated 2 World Trade Organization pacts; in particular, the Agreement on Agriculture. A WTO compliance panel agreed. Cross published on earlier steps in the litigation here; her Insight focuses on the June ruling in which the WTO Appellate Body sustained the compliance panel.
The ruling is unlikely to end the dispute at this time, when broader trade talks have failed, Cross writes. Brazil is expected to resume arbitration in an effort to secure countermeasures – that is, payment in the billions of dollars on account of the United States’ violation – and may even seek to retaliate.
Stay tuned.

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