Earlier this year, we read of the WTO declaring that government subsidies given to domestic cotton farmers were illegal because it depressed cotton prices for world-wide producers.
Today, WWD reports:
The removal of trade-distorting subsidies by wealthy countries may increase world market prices for cotton and other agricultural commodities by as much as 15 percent, the United Nations Food & Agriculture Organization said Wednesday. Link
Now we know which side of the WTO fence you're on.
(And yes I know I link to WWD wayyyyy too often, but that just shows a dearth of quality denim industry news out there. That's one of the reasons I started this blog...)