China resolves key trade dispute with US

191155 Resource 94086 94146 94146 1196455211138 1201634949962 Controlled China signed an agreement to remove 12 export subsidies

American companies are no longer qualified for certain subsidies starting January 1, 2008

As requested by the <country-region w:st="on" />United States</country-region />, <place w:st="on" /><country-region w:st="on" />China</country-region /></place /> will remove12 export subsidies by January 1, 2008. While American companies are used to taking advantage of the low-priced labor and raw materials in <country-region w:st="on" />China</country-region />, the <country-region w:st="on" />United States</country-region /> government is worried about their own competition against <country-region w:st="on" /><place w:st="on" />China</place /></country-region />.  <country-region w:st="on" /><place w:st="on" />China</place /></country-region />’s exports have grown from $150 billion in 1996 to $970 billion in 2006 due to the implementation of various types of subsidies and tax rebates. However, this created a significant trade surplus and tensions with other trading partners. Early this year, the <country-region w:st="on" />United States</country-region /> filed a complaint about the current situation in <country-region w:st="on" /><place w:st="on" />China</place /></country-region /> with the World Trade Organization.  With the additional subsidies removed, it will balance the imports and exports between the two trading countries. In addition, it will encourage Chinese companies to buy more local goods. 9 application/xml false China export foreign trade subsidies tax rebates US China resolves key trade dispute with US Shanghai Daily http://www.shanghaidaily.com/sp/article/2007/200711/20071130/article_340036.htm Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 6.0; SLCC1; .NET CLR 2.0.50727; .NET CLR 3.0.04506) 127.0.0.1 127.0.0.1 Establish 208.105.4.154 false true false false true 187565 false false true false false false true 94086 blog blogsite/ChinaSupplyChain/web