Economy
April 16, 2016
China Scraps Small-Firm Subsidy Program
Written by Sandy Williams
China has agreed to eliminate some export subsidies on products exported to the United States, said U.S. officials this week.
The subsidized products gave advantages to small firms in seven industries, including textiles and seafood, and were in violation of World Trade Organization rules. It is estimated that government subsidies for the program totaled about $1 billion over three years. To put that in perspective, the total value of Chinese exports to the U.S. just in 2015 was $482 billion.
