Home / Knowledge / News / Textiles / Brazil warns action if US continues cotton subsidies
Brazil warns action if US continues cotton subsidies
21
Jul '12
The Government of Brazil would levy tariffs on goods imported from the US, if the North American country fails to comply with a World Trade Organization (WTO) ruling that demands the US to end cotton export subsidies.
 
The Latin American country is the fifth largest cotton producer and the third biggest cotton exporter in the world, behind the US, and hence its cotton exports are affected due to the US Government’s policy of subsidizing cotton exports.
 
Roberto Carvalho de Azevedo, Brazil's representative at the WTO, said an inter-ministerial group is already discussing on the ways to apply economic sanctions approved by the WTO in case the US fails to meet its obligations as per the WTO ruling.
 
In its ruling, the WTO had concluded that the subsidies extended by the US Government on cotton exports adversely impacted Brazilian cotton farmers. It authorized Brazil to impose US$ 830 million worth of tariffs on goods imported from the US.
 
However, the two countries reached an understanding in 2010 over the issue. The US said it would modify the subsidy system under a new US law on agriculture, which would be implemented this year. Brazil agreed to postpone its levying of tariffs until the new law comes into effect.
 
Meanwhile, the US Congress has passed a new farm law that is to be implemented from September 30 this year. The law supports continuation of subsidies on cotton exports.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X