Home / Knowledge / News / Textiles / Brazil to inspect US farm bill before taking measures
Brazil to inspect US farm bill before taking measures
03
Feb '14
The Brazilian Government would be closely examining the new US farm bill passed recently by the House of Representatives, to see whether it meets with the standards set by the World Trade Organization (WTO), before adopting any retaliatory measures against the country regarding the cotton dispute, said Brazilian Foreign Minister Luiz Alberto Figueiredo after his meeting with US Representative for Trade, Michael Froman in Washington, D.C.
 
Mr. Figueiredo said during a press conference after the meeting, that the Brazilian Government would closely inspect the new farm bill to assure whether the requirements are met with, in terms of the reduction of US cotton subsidies, which have been causing dispute between the two countries.
 
Although US Trade Representative Michael Froman has assured the new law passed on January 29, 2014, has been framed taking into consideration the concerns from Brazilian cotton producers, the Brazilian Government would be analyzing the law to see if it meets with the WTO requirements and eliminates subsidies that have harmed Brazilian cotton producers, he added.
 
Last week, the Committees on Foreign Relations and National Defense, as well as on Agriculture and Agrarian Reform of the Brazilian Senate announced they would organize a meeting this month, in order to discuss retaliatory measures to be taken against the US on the cotton subsidy issue, after the commencement of the work of National Congress of Brazil during the same month.
 
In 2010, Brazil had challenged US cotton subsidies at the World Trade Organization (WTO) and won authorization to receive US$ 831 million per year, with US$ 591 million in products and about US$ 240 million in intellectual property.
 
Through a memorandum of understanding (MoU), the US Government agreed to make an annual payment of US$ 147.3 million, in monthly installments to the IBA, until the Farm Bill was passed, which would eliminate the long-standing subsidies that caused the dispute.
 
The last farm bill expired on September 30, 2013, and the US Government stopped paying its monthly installments to the IBA since September 2013.
 

Fibre2fashion News Desk-India


Must ReadView All

Textiles | On 22nd Aug 2017

Cotton yarn futures trading begins in China’s Zhengzhou

Cotton yarn futures trading recently began on the Zhengzhou Commodity ...

Textiles | On 22nd Aug 2017

PTEA concerned over sluggish textile sector growth

The Pakistan Textile Exporters Association (PTEA) has expressed...

Textiles | On 22nd Aug 2017

Asian Propylene prices march higher last week

Propylene prices went up in Asia in the last week due to tight supply ...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Bani Batra

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

August 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

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

Yes No

Active Poll

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

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

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

Yes No

Active Poll

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

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

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

Active Poll

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

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


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