Brazil

Brazil has reached a settlement with the United States regarding a long-standing cotton dispute with the World Trade Organization (WTO). Under the settlement, Brazil will relinquish all rights to countermeasures against U.S. trade in return for a contribution from the United States to the Brazil Cotton Institute for US$300 million. The dispute has been running since 2005 when Brazil brought a complaint to the World Trade Organization that the U.S. was violating WTO trade policies. (Fibre2Fashion)