Rep. Frank Lucas, Chairman of the House Agriculture Committee, today issued a statement in response to the Commodity Futures Trading Commission's (CFTC) surprise "advisory notice" to further regulate cross-border swaps.
Chairman Collin C. Peterson and Ranking Member Frank Lucas Issue Joint Statement on Cotton Case Announcement
Tamara Hinton (202) 225-0184
WASHINGTON – Today, House Agriculture Committee Chairman Collin C. Peterson (MN) and Ranking Member Frank Lucas (R-OK) issued the following statement on today's announcement from USTR and USDA regarding discussions with Brazil on the WTO dispute related to cotton and export credit guarantee programs:
“We are pleased to see that the discussions between the United States and Brazil have yielded concrete results in this ongoing dispute and that Brazil has delayed the imposition of countermeasures. These countermeasures would ultimately be harmful to the economic interests of both countries and to our long-term bilateral relationship. However, we understand that a delay in countermeasures is not a final resolution of the dispute, and we will work closely with officials in USDA and USTR as their discussions on these programs continue. "