US defeats China at WTO in vast grain-subsidy case, after accusing Beijing of US$100 billion price propping

//US defeats China at WTO in vast grain-subsidy case, after accusing Beijing of US$100 billion price propping

US defeats China at WTO in vast grain-subsidy case, after accusing Beijing of US$100 billion price propping

The World Trade Organisation on Thursday sided with Washington in a dispute it filed three years ago over “unfair” Chinese subsidies to its producers of wheat and rice.Back in 2016, the United States alleged that China doled out US$100 billion in “market price support” for wheat and rice as well as corn production, above levels agreed at the Geneva-based WTO.That in turn provided an artificial incentive for farmers to produce more, lowering prices elsewhere, the US said.A panel established by…

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By | 2019-02-28T17:14:58+00:00 February 28th, 2019|World|Comments Off on US defeats China at WTO in vast grain-subsidy case, after accusing Beijing of US$100 billion price propping