WE'RE ALL TRANSNATIONALIST SOMETIME OR ANOTHER:

U.S. Loses Ruling on Cotton Payouts (PETER FRITSCH and JOHN LYONS , 9/01/09, WSJ)

A ruling against the U.S. in a long-running fight with Brazil over American payouts to cotton growers sets an important precedent for developing nations concerned by what they see as excessive U.S. support for farmers.

A World Trade Organization arbitration panel ruled Monday that Brazil is entitled to $295 million upfront, and nearly $150 million a year, for the U.S. failure to eliminate subsidies to the cotton industry. The annual penalties are far below the $2.5 billion Brazil had sought.

Come one, come all!

Posted by Orrin Judd at August 31, 2009 8:43 PM