Brazil/USA trade dispute resolution a step further

The long-running dispute between the USA and Brazil, which included imposing sanctions on US imports of pharmaceutical products, among total sanctions of $591 million (The Pharma Letter April 8), has moved a further step forward.

The Brazilian Foreign Board (CAMEX) - the agency that encompasses the ministers entitled to tailor the foreign trade policy - met last week and approved an agreement with the USA, which suspended until 2012 the applicability of commercial sanctions against the US subsidies to cotton producers, noted a blogger on IP Tango.

Both governments will sign a Memorandum of Understanding to establish a new set of negotiations, consultations and reforms until the US government finalize the elaboration of a new agricultural law by 2012.