NEWS
US, Brazil Cotton Dispute Resolved
Wed Oct 1, 2014 07:25 AM CDT

(Dow Jones) -- Brazil and the U.S. have reached an agreement to settle a more than decade-old dispute over U.S. cotton subsidies, people familiar with the negotiations said Tuesday.

U.S. Agriculture Secretary Tom Vilsack and U.S. Trade Representative Michael Froman will sign the agreement with their Brazilian counterparts on Wednesday, a person familiar with the agreement said.

In 2004, the World Trade Organization ruled that the U.S. farm programs included prohibited subsidies to cotton growers and said the U.S. must change the programs or face retaliatory measures from Brazil.

The U.S. had agreed to pay Brazil about $150 million a ...

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