Weekly Report - 11 March 2010 (WR-10-10)

BRAZIL | Trade war. The government has decided to increase the import tax of 102 US-made products, totalling US$591m, after receiving authorisation from the World Trade Organization (WTO). The WTO has ruled three times in favour of Brazil in cases against US government subsidies to the US cotton industry. The Brazilian government, however, says it is willing to reach an accord with the US before the tax hike takes place, next month. A US trade committee is currently in Brazil for negotiations.