WASHINGTON — The United States and Brazil reached agreement on April 6 for a negotiated settlement in the longstanding dispute over cotton in the World Trade Organization. The settlement will avoid Brazil imposing up to $820 million in retaliatory measures on U.S. products and eventually may allow Brazil to export more pork and beef to the United States.
Brazilian beef producer JBS S.A., the world's largest beef packer, and National Beef Packing Co. said today in a joint statement that they are dropping the deal.
February 20, 2009
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