MEMPHIS — October 1, 2014 — The National Cotton Council appreciates the U.S. government’s successful efforts to conclude the U.S.-Brazil trade dispute in the World Trade Organization through negotiation, thereby avoiding retaliation.
NCC Chairman Wally Darneille reiterated that the U.S. cotton industry has undertaken extensive efforts to resolve this case. He said the NCC offered comprehensive reform of cotton policy as part of the new farm law.
“The new U.S. farm bill includes several necessary changes to cotton policy and the GSM export credit program,” Darneille said. “When compared to previous programs, cotton policy is more market-oriented with the primary safety net conveyed through insurance products that must be purchased by the producer.”
“Officials from the Office of the U.S. Trade Representative and the Department of Agriculture are to be commended for reaching a comprehensive agreement that brings the dispute to a close,” Darneille stated. “With the conclusion of the case, the U.S. cotton industry can bring a renewed focus to the challenges that lay in front of us.”
Posted October 1, 2014
Source: National Cotton Council