US, EU, Japan tackle subsidies; aluminium trade groups upbeat

Representatives from the United States, European Union and Japan have agreed to jointly work toward strengthening existing World Trade Organization (WTO) rules on market-distorting industrial subsidies, a move welcomed by aluminium trade groups that have long sought to tackle Chinese overcapacity.

Specifically, trade ministers from the three regions discussed the need to strengthen existing WTO rules by amending the Agreement on Subsidies and Countervailing Measures (ASCM) to include new types of unconditionally prohibited subsidies. These are: Unlimited guarantees Subsidies to “insolvent or ailing” enterprises lacking a “credible restructuring plan” Subsidies to enterprises...

Published

Michael Roh

January 16, 2020

23:07 GMT

New York