US claims victory in subsidies battle with China
30th November 2007
Washington and Beijing on Thursday (Nov. 29) resolved a dispute over government subsidies to Chinese industry, averting a long legal battle at the WTO. The US said the agreement represented a victory for its policy of vigorously pursuing trade disputes with China through a variety of legal avenues.
An official at the Chinese mission in Geneva denied that the agreement represented a total climbdown by Beijing. The official said that some of the subsidies had already been repealed and some were due for repeal under a new income tax law for enterprises. Get more on the story and a link to a Chinese report on AmCham-China’s site.