Brazil has won a landmark victory at the World Trade Organisation that could spell the beginning of the end of rich countries' subsidy payments to their farmers. The WTO, based in Geneva, has ruled that $1.5bn (£830m) of annual subsidies given by the United States government to its 25,000 cotton farmers are mostly illegal. The provisional ruling is confidential, but trade sources said pubic confirmation would be available as soon as next month and could start a domino effect whereby much of the £300bn in subsidies lavished on the rich world's farmers might tumble. "This could be the first domino," one said. The ruling is the first time a developing country has won such a decision from the WTO when arguing against one of the big trade powers.
Apr 29, 2004
































