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Brazilian Premier urges US to end stalemate
11
Mar '10
Image courtesy - Reuters
Image courtesy - Reuters
The Brazilian President, Luiz Inacio Lula da Silva has requested the US President, Barack Obama to move urgently, to bring to a conclusion the trade dispute between the two countries over alleged subsidies provided to US cotton farmers.

It may recalled that Brazil had threatened to impose punitive duties on imports of 102 products imported from the US on March 8, in retaliation to the US not reducing subsidies paid to cotton farmers.

Silva laid the blame squarely on the shoulders of the US administration which he said, had not consented to the Brazilian position at the Doha round of talks in 2008, which has led to the current stalemate.

The tariffs imposed on 102 American manufactured goods could total up to $591 million and the government may also impose punitive duties on other yet to be named goods, which could add up to another $238 million.

Fibre2fashion News Desk - India


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