BRASILIA/WASHINGTON (Reuters) – The United States will pay Brazilian cotton producers $300 million to settle a decade-old dispute over cotton subsidies, two officials familiar with the settlement said on Tuesday, the first concrete step to repair ties hurt by an espionage scandal.
The agreement will be formally signed on Wednesday morning in Washington after Brazilian Agriculture Minister Neri Geller and Foreign Minister Luiz Alberto Figueiredo traveled to the U.S. capital to finalize details.
WASHINGTON/TOKYO, Sept 26 (Reuters) – U.S.-Japan trade talks
hit a rough patch this week with both sides blaming the other
for a stalemate over farm exports, a major hurdle in concluding
an ambitious 12-nation trade pact.
Bilateral talks between U.S. Trade Representative Michael
Froman and Japanese Economy Minister Akira Amari in Washington
broke up early on Wednesday, midway through the second day,
according to people close to the talks.
WASHINGTON, Sept 25 (Reuters) – Japan and the United States
failed to make progress in bilateral talks, both sides said on
Wednesday, dealing a blow for hopes of sealing an ambitious
multilateral trade deal this year.
“Japan made a flexible proposal, but we weren’t able to make
further progress,” Trade Minister Akira Amari told reporters on
Wednesday evening after two days of talks in Washington.
“Further negotiations are undecided.”
WASHINGTON (Reuters) – The Federal Reserve should be “exceptionally patient” in removing its monetary policy stimulus, a top Fed official said on Wednesday, even if doing so means allowing inflation to modestly overshoot the U.S. central bank’s 2 percent goal.
“I am very uncomfortable with calls to raise our policy rate sooner than later,” Chicago Federal Reserve Bank President Charles Evans told a Peterson Institute conference. “I favor delaying liftoff until I am more certain that we have sufficient momentum in place toward our policy goals.”