WTO panel rules in favor of US in Chinese farm subsidy case

GENEVA — The World Trade Organization panel has ruled in favor of the United States in a dispute with China over agricultural subsidies, saying Beijing went beyond WTO limits in its support for wheat and rice producers.

The WTO's Dispute Settlement Body on Thursday found China exceeded domestic support limits on those products between 2012 and 2015.

The Office of the U.S. Trade Representative welcomed the ruling as "a significant victory for U.S. agriculture." Trade Representative Robert Lighthizer said: "We expect China to quickly come into compliance with its WTO obligations."

Washington had argued China's minimum price support measures for two types of rice, plus wheat and corn went beyond its WTO commitments. The panel said corn prices fell in line with the limits before the U.S. filed its complaint.

The two countries can appeal the decision.

The U.S. filed its complaint in September 2016 during the Obama administration.

Since President Donald Trump took office the following year, U.S.-China trade tensions have intensified. The two countries have slapped tariffs on hundreds of billions of dollars' worth of each other's exports in a dispute over China's aggressive push to supplant U.S. technological dominance.

Canada tests 'basic income' effect on poverty...

Nov 29, 2017

Canadian authorities are engaged in an unusual experiment in which a basic minimum income with no...

Canada proposes tightening controls on gun sales

Mar 20, 2018

Gun retailers in Canada would be required to keep records of firearms inventory and sales for at...

Police search for more victims of Canada serial...

Mar 21, 2018

People with relatives who have been reported missing in Canada are tensely following developments...

Truck company in Canada hockey bus crash ordered...

Apr 10, 2018

A Canadian trucking company that owns the semi-trailer that collided with a youth hockey bus,...

The Latest: Trump tweeting about G-7 before Kim...

Jun 11, 2018

President Donald Trump is taking more swipes at Canada and its prime minister over trade issues as...

Financial Markets

Market Sanctum is one of the world’s leading news sources for the currency trading community. Our analysts report on the latest changes in the current market, providing in-depth analysis.

Contact us: sales[at]marketsanctum.com