The U.S. will pay Brazilian cotton producers $300 million to end a long-standing dispute at the World Trade Organization over subsidies to the U.S. cotton industry, U.S. officials said. The accord was made with the stipulation that Brazil relinquish its right under a previous WTO ruling to impose trade sanctions against the U.S. and refrain from new complaints against the U.S. cotton industry. The announcement of the settlement came after Brazil in February threatened to lodge a complaint at the WTO against the U.S. current farm bill because of alleged distortions it caused to prices in the cotton market.  The dispute over cotton dates back more than a decade. The WTO in 2009 ruled that Brazil could carry out trade retaliation measures against the U.S. worth up to $830 million annually.  Following negotiations in 2010, the U.S. agreed to pay $147 million annually in compensation to Brazilian producers, but later suspended those payments. In reaction to news of the latest agreement, Brazilian cotton industry officials said the settlement of the dispute would be positive for both sides as it would free bilateral trade between the countries from the threats of new trade retaliation and subsidies.