US alleges that China unfairly helps its exporters

The US is alleging that the Chinese government is unfairly subsidizing its exports in seven industries. The Office of the US Trade Representative says that China paid the suppliers of certain companies in the textile, materials, chemical manufacturing, light industrial, medical products, and agricultural industries almost $1 billion over three years to provide free or discounted services.

The US says that the subsidies violate the WTO rules. These services can range from subsidized IT services, product design services, or training services. “All of these services, provided for free or at a discount undermine fair competition,” says US Trade Representative Michael Froman.

The Office of the US Trade Representative says that it will try to reach a settlement with China at the WTO and if that fails, the US will ask the WTO to rule on the dispute.

The complaint comes as the Obama administration seeks congressional support for the Trans-Pacific Partnership which includes Japan, Australia, Canada, and Mexico but excludes China.

See the full and original article here: http://finance.yahoo.com/news/us-alleges-china-unfairly-helps-exporters-150826633–finance.html

 

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