[fullwidth background_color=”” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” border_size=”0px” border_color=”” border_style=”” padding_top=”20″ padding_bottom=”20″ padding_left=”” padding_right=”” hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=””][title size=”1″ content_align=”center” style_type=”underline solid” sep_color=”#000000″ margin_top=”” margin_bottom=”” class=”” id=””]

China eliminates subsidies used to boost its exports

[/title][fusion_text]Wednesday, April 13th 2016

China is eliminating a complex web of subsidies the country has been using to boost its exports of agricultural, medical, textile and other goods, U.S. Trade Representative Michael Froman announced Thursday. USTR officials said they calculated that China has spent about $1 billion over the past three years, providing free or discounted services to industrial centers that specialize in exporting and that put U.S. producers and exporters at a disadvantage in the global market. USTR officials highlighted seafood as a sector that has been highly subsidized by the Chinese government in order to boost exports, but Farr pointed to damage in his own central California district. It was on Feb. 11, 2015, that the U.S. first filed a challenge with the World Trade Organization against China’s export subsidy scheme with the awkward name Demonstration Bases-Common Service Platform Program, and the WTO established a dispute panel about two months later. In the end China chose not to fight the U.S. complaint and on Thursday signed an agreement in Switzerland to dismantle the export subsidies that supported 179 industrial complexes throughout the country.

[/fusion_text][/fullwidth]