4/27/2004

The World Trade Organization reportedly sided with Brazil yesterday in its case against the U.S., deciding that billions of dollars of subsidies illegally propped up domestic cotton production and lowered the price of cotton worldwide. An economist who worked on the case said U.S. cotton exports would have declined by about 40% and world cotton prices would have risen 12.6% without the subsidies. U.S. trade officials plan to appeal the decision if it is not changed before its official release.

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