Washington, DC—The Brazilian government announced today that they will postpone their right to retaliate against the US until the 2012 Farm Bill. In reaction, Laura Rusu, spokesperson for Oxfam America said:
“This agreement lets the US off the hook for now. But with each day that passes with no reform, millions of poor cotton farmers around the world continue to struggle. Eliminating US cotton subsidies could result in additional income that would literally feed an additional million children for a year or pay school fees for at least two million children living in extremely poor West African cotton growing households.
“The case against American cotton subsidies has been proven time and time before. The onus is on the US Congress to deliver the needed reform, in the next Farm Bill if not before.
“Until then, US taxpayers will be paying not just for wasteful subsidies to large scale US cotton producers, but also compensating Brazilian farmers for the losses incurred thanks to misguided US farm policies. If the US Congress fails to make these reforms, Brazil’s retaliation is likely to be much costlier.”