“W.T.O. Approves $295 Million in Sanctions Against U.S.”

I found that the article “W.T.O. Approves $295 Million in Sanctions Against U.S.” from the New York Times website sheds light on a trade issue between nations and also gives an example of how the W.T.O. works as an organization. The article reports that the W.T.O. ruled that the United States has to pay a fine of $295 million because of “failure to eliminate illegal subsidies to domestic cotton growers”. Apparently, the United States has been giving around $3 billion dollars to American cotton growers each year since around 2002.

“W.T.O. Approves $295 Million in Sanctions Against U.S.”

The United States is being punished because they illegally subsidized to domestic cotton growers. The World Trade Organization ruled that the United States need to pay annual sanctions of $295 million as punishment for these illegal subsidies, but the sanctions of payments would vary each year.

US$ devaluation VS Latin American Currencies

My article was entitled “U.S. Dollar Plunges Against Major Latin American Currencies” by a staff member of the RTT News. Like the article states, the U.S. dollar has depreciated against all of the major Latin American currencies such as the Mexican peso, the Brazilian real, the Chilean peso, and the Columbian peso.

China Becomes a Source of Consumer Demand

The Group of 7, or G-7, is the meeting of finance ministers from a group of seven industrialized nations which are Canada, France, Germany, Italy, Japan, United Kingdom, and the United States of America.

Brazil considers taking “Buy American” clause to WTO

Brazilian Foreign Minister Celso Amorim said the country might ask the World Trade Organization to examine the legality of the “Buy American” provision in the U.S. economic stimulus. The clause, which blocks foreign participation in parts of the stimulus, is “not positive at a moment when the world economy is trying to revive”.

Brazil may challenge “Buy American” at WTO

In my article it talks about how Brazil is considering challenging the legality of the newly passed “Buy American” clause at the WTO meeting in London next month. Brazil will speak about global protectionism. Brazil is challenging the clause because they feel that the United States is being counterproductive to global trade.

Brazil may challenge “Buy American” at WTO

Brazilian Economic officials report that they are very disappointed in the most recent “Buy American” stimulus package aimed at giving money to companies who buy American made products for building projects and other improvements.