Wednesday the United States and Brazil settled a ten year old World Trade Organization dispute over Cotton. The ruling keeps punitive tariffs from being placed on U.S. cotton in the future and other commodities down the road. Nebraska Farm Bureau National Affairs Coordinator Jordan Dux says the agreement benefits all of U.S. agriculture and stops unneeded economic sanctions.
Dux says now trade between the two competing countries can go forward that will benefit both nations.
Dux says earlier payments made to Brazil over the cotton ruling helped lead to the two nations finding resolution on the dispute that prevented further economic woes for U.S. agriculture.
U.S Trade Representative Michael Froman in announcing the agreement says this deal removes the threat of increased tariffs totaling hundreds of millions of dollars every year.