China has agreed to eliminate a wide range of subsidies for its exporters following a US complaint to the World Trade Organisation. The move came in a bilateral agreement between the two governments that ended a dispute that had lasted more than a year.
Michael Froman, the US Trade Representative, announced the deal on Thursday, calling it “a win for Americans employed in seven diverse sectors that run the gamut from agriculture to textiles”.
The US challenge, launched in February 2015, took issue with incentives for Chinese exporters in seven sectors: textiles, apparel and footwear; advanced materials and metals; light industry; specialty chemicals; medical products; hardware and building materials; and agriculture.