China negotiates with Mexico over textile subsidies

Posted on October 17, 2012 • Filed under: Business, China, Mexico reported that China announced today that it will negotiate with Mexico a negotiated solution to the Latin American country’s demand for the alleged subsidies to Chinese textile producers. “China will respond appropriately to the call to resolve the dispute in accordance with the procedures of the WTO,” said Chinese Commerce Ministry. The announcement came a day after the Mexico’s Secretariat of Economy (SE) announced that requested consultations with Beijing in the WTO over subsidies that China gives its textile and clothing sectors. The Chinese government would have benefited their producers with tax exemptions or reductions, mainly from income tax. Read Article

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