A Complicated Chronology
Gary Adams
NCC Economist
What was the reaction to the original panel ruling in this case?
Following an appeal by the United States, the ruling triggered a number of policy responses. First, USDA proposed the elimination of the Step 2 and certain export credit guarantee programs. A special NCC task force developed recommendations, including work to delay Step 2 elimination until Aug. 1, 2006. Ultimately, Congress and the Administration passed a reconciliation bill eliminating Step 2 as of that date.
A Compliance Panel proceeding was initiated by Brazil in August 2006, and in October 2007, the Com-pliance Panel found the United States had not fully complied with the original panel's ruling. Following an unsuccessful appeal by the United States, Brazil notified the WTO that it would move forward with an arbitration proceeding against the United States. This year's key events were the arbitration proceedings and the Arbitration Panel's report – which authorized cotton retaliation of $147 million and another $147 million for export credit programs. The retaliation level associated with export credit programs can vary based on the value of trade under the program.
source : cottonfarming
Gary Adams
NCC Economist
What was the reaction to the original panel ruling in this case?
Following an appeal by the United States, the ruling triggered a number of policy responses. First, USDA proposed the elimination of the Step 2 and certain export credit guarantee programs. A special NCC task force developed recommendations, including work to delay Step 2 elimination until Aug. 1, 2006. Ultimately, Congress and the Administration passed a reconciliation bill eliminating Step 2 as of that date.
A Compliance Panel proceeding was initiated by Brazil in August 2006, and in October 2007, the Com-pliance Panel found the United States had not fully complied with the original panel's ruling. Following an unsuccessful appeal by the United States, Brazil notified the WTO that it would move forward with an arbitration proceeding against the United States. This year's key events were the arbitration proceedings and the Arbitration Panel's report – which authorized cotton retaliation of $147 million and another $147 million for export credit programs. The retaliation level associated with export credit programs can vary based on the value of trade under the program.
source : cottonfarming
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