Brazil has published a list of 102 products that it intends to impose import tariffs upon- to the tune of $591 million- in retaliation to the egregious U.S cotton farm subsidies as per a ruling in a long-running dispute that the World Trade Organisation delivered a verdict on in August 2009.

If Brazil decides to implement the barriers it is threatening, a handful of Brazilian manufacturers may benefit.  But overall both economies will be worse off, without any guarantee that the U.S. cotton subsidies it is so desperately irritated about will be lifted. Goods will cost more for Brazilian consumers and the Brazilian producers that rely upon imported inputs.  And those companies may also find reduced export opportunities if, as is likely, there is a backlash in the United States.
Brazil is right to be aggrieved about U.S. cotton subsidies, but retaliating against US interests and undermining its own interests would only make both parties worse off.