An article by Frances Williams in today's Financial Times (registration necessary after a time lag) plays down the prospect of a flood of litigation when the "peace clauses" (see below) in the international trade legislation expire today.
But she reminds us that there is already a case taken out by Brazil in 2002 against the US alleging excessive subsidies. Brazil has argued that the peace clause does not apply in this case because annual US subsidies to cotton farmers of $3bn-$4bn vastly exceed 1992 levels laid down as the permitted maximum. Judgment is expected in the Spring. Does anyone out there know of a country planning legal action?