This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/world/americas/8556920.stm
The article has changed 5 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Brazil puts trade sanctions on US | Brazil puts trade sanctions on US |
| (10 minutes later) | |
| The Brazilian government has announced trade sanctions against a variety of American goods in retaliation for illegal US subsidies to cotton farmers. | The Brazilian government has announced trade sanctions against a variety of American goods in retaliation for illegal US subsidies to cotton farmers. |
| The World Trade Organization (WTO) approved the sanctions in a rare move. | The World Trade Organization (WTO) approved the sanctions in a rare move. |
| Brazil published a list of 100 US goods that would be subject to import tariffs in 30 days, unless the two governments reached a last-minute accord. | Brazil published a list of 100 US goods that would be subject to import tariffs in 30 days, unless the two governments reached a last-minute accord. |
| It said it regretted the sanctions, but that eight years of litigation had failed to produce a result. | It said it regretted the sanctions, but that eight years of litigation had failed to produce a result. |
| It said it would raise tariffs on $591m (£393m) worth of US products - from cars, where the tariff will increase from 35% to 50%, to milk powder, which would see a 20% increase in the levy. | It said it would raise tariffs on $591m (£393m) worth of US products - from cars, where the tariff will increase from 35% to 50%, to milk powder, which would see a 20% increase in the levy. |
| US farm subsidies are condemned worldwide, this archaic practice must stop Carlos Marcio CozendeyBrazil's foreign ministry | US farm subsidies are condemned worldwide, this archaic practice must stop Carlos Marcio CozendeyBrazil's foreign ministry |
| Cotton and cotton products would be charged 100% import tariff, the highest on the list. | Cotton and cotton products would be charged 100% import tariff, the highest on the list. |
| The Office of the US Trade Representative said it was "disappointed" by Brazil's decision and called for a negotiated settlement. | The Office of the US Trade Representative said it was "disappointed" by Brazil's decision and called for a negotiated settlement. |
| Critics say the US has given its cotton growers an unfair advantage by paying them billions of dollars each year. | Critics say the US has given its cotton growers an unfair advantage by paying them billions of dollars each year. |
| In 2008, the WTO ruled that subsidies to US cotton producers were discriminatory. | In 2008, the WTO ruled that subsidies to US cotton producers were discriminatory. |
| Carlos Marcio Cozendey, head of economic affairs at Brazil's foreign ministry, told a news conference: "The idea was to distribute the retaliation broadly in order to maximise pressure." | |
| "US farm subsidies are condemned worldwide. This archaic practice must stop," he added. | |
| However some analysts say major changes to these subsidies would involve modifying agricultural legislation - a tall order for the US Congress against a difficult economic and political backdrop, says the BBC's Gary Duffy in Sao Paulo. | However some analysts say major changes to these subsidies would involve modifying agricultural legislation - a tall order for the US Congress against a difficult economic and political backdrop, says the BBC's Gary Duffy in Sao Paulo. |
| Our correspondent says the dispute, which began in 2002, is one of the few in which the WTO has allowed cross-retaliation, meaning the wronged party can retaliate against a sector not involved in the case. | |
| He adds that it appears the Brazilian government has deliberately chosen a wide range of products in order to have maximum impact. | |