The New Media Journal | WTO Allows Brazil to Fine US: "American goods will face around $295 million in annual sanctions as a result of the United States' failure to eliminate illegal subsidies to US cotton growers, the World Trade Organization ruled Monday.
The result was disappointing for Brazil, which has won a series of rulings against the US over the last seven years. The Latin American country had sought to target American goods and drug patents for $2.5 billion worth of economic retaliation.
The WTO ruled that the sanctions should vary depending on US payments each year. Arbitrators used 2006 as a base year for the ruling, and said US payments would have to increase significantly for Brazil to be allowed to punish American drug patents.
'The cumulated amount of countermeasures to which Brazil is entitled to is $294.7 million,' the WTO said in a two-part ruling totaling 269 pages.
Washington had argued that the award should not exceed $30 million."
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