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US and EU ordered to stop cotton and sugar subsidies
13 Sep 2004
The World Trade Organisation has ruled against US cotton farm support schemes.
A WTO panel mostly upheld Brazil's claim that the $4 billion of domestic subsidies paid to US cotton farmers unfairly lifted output and depressed prices.
The case is the second recent win for Australian farmers against subsidies. The WTO ruled last week that the EU had breached trade rules by dumping sugar on world markets. Andrew Stoler, executive director of Adelaide University's Institute for International Business, Economics and the Law and a former deputy head of the WTO, described the two decisions as "blockbuster cases".
Financial Review, 13/09/04
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