China agrees to end export subsidies to steel, other industries, US says

[WASHINGTON] China has agreed to scrap controversial export subsidies on a range of products from steel and aluminum to agriculture and textiles, the US Trade Representative said on Thursday.

In a deal coinciding with global economic meetings in Washington, the USTR said in a statement that China has agreed to end a program known as its "demonstration bases-common service platform" in which it provides export subsidies to Chinese companies in seven economic sectors.

The agreement comes about a year after the United States filed a complaint with the World Trade Organization about the program, alleging "unfair, prohibited export subsidies to a large range of Chinese manufacturers and producers."

REUTERS