China scraps “famous brand” subsidies
China has announced that it is withdrawing subsidies for so-called “famous brand” products including sugar confectionery, chocolate and fruit jelly among many others.
The move came after the US trade representatives argued that these handouts were export subsidies banned by the World Trade Organisation.
Chinese documents did not state the value of the subsidies but the US trade office stressed the abolition “will level the playing field for American workers”. The move will also apply to other WTO members.
