The World Trade Organization will soon rule in favor of the United States in a long-standing dispute with China. The U.S. says Chinese government subsidies it gives to corn and rice growers are a violation of WTO rules. Politico says the confidential ruling was shown to interested parties before Christmas. The ruling could be released to the public sometime in late February when China and the U.S. will hopefully be in the final stages of trade talks. It’s also possible the ruling will be out in early March.
It was back in 2015 that then-U.S. Trade Representative Michael Froman alleged China had exceeded international limits on ag subsidies by as much as $100 billion in 2015. The Chinese vice premier will lead a delegation to Washington for more trade negotiations on January 30-31. He’ll meet with current U.S. Trade Rep Robert Lighthizer and Treasury Secretary Steven Mnuchin. Lighthizer met with Iowa Senator Chuck Grassley last week and told Grassley that there hasn’t yet been progress toward structural reforms of China’s trade practices. Lighthizer did tell Grassley that discussions on China purchasing more U.S. farm goods were going well.
Source: NAFB News Service