The US government challenged a China program that acted to subsidize exports from small firms. Now, that program is ended.
China ended an incentive program that effectively subsidized exports from small firms, a year after the U.S. challenged it at the World Trade Organization, U.S. officials said.
The subsidy program benefited seven industries, including textiles and seafood, by giving companies a small but crucial advantage in exports, contrary to the rules of the WTO, U.S. officials said.
U.S. officials have estimated that particular program amounted to around $1 billion over three years—a drop in the bucket compared with overall Chinese exports to the U.S., which totaled $482 billion last year.
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