US loses cotton subsidies fight

BBC

The US could face billions of dollars in trade sanctions for failing to scrap illegal subsidies paid to American cotton growers.

The World Trade Organisation ruling is a victory for Brazil's cotton industry and for West African states which say the payments harmed their producers.

Brazil hailed the ruling, saying US subsidies had hit world prices, hurting farmers in Brazil and elsewhere.

But US officials believe the payments comply with international trade rules.......