China to dismantle export subsidy program | Chemical & Engineering News
Volume 94 Issue 17 | p. 19 | Concentrates
Issue Date: April 25, 2016

China to dismantle export subsidy program

Department: Government & Policy
Keywords: policy, specialty chemicals, export subsidy, China, World Trade 

China has agreed to stop export subsidies that provided an estimated $1 billion over three years to companies that make specialty chemicals, advanced materials and metals, and medical products, among other goods. China had provided cash grants and free or discounted services to Chinese firms, enabling them to undercut U.S. rivals on price, the Obama Administration says. The new agreement comes a year after the U.S. charged that China’s incentives violated international trade rules established by the World Trade Organization (WTO). U.S. Trade Representative Michael B. Froman says the deal will benefit Americans employed in the affected sectors. Several U.S. Democratic lawmakers are praising the settlement. “We must continue to be vigilant in monitoring China’s unfair trade practices and in calling for WTO arbitration to end any violations of our international trade standards agreements,” says Rep. David Price (D-N.C.).

Chemical & Engineering News
ISSN 0009-2347
Copyright © American Chemical Society

Leave A Comment

*Required to comment