China will hold consultations with the US in late March on industrial subsidies that have caused Washington to drag Beijing before the World Trade Organization, AFP reported. The two countries will discuss US complaints regarding Chinese subsidies for industries such as steel, paper and information technology in a meeting at WTO headquarters in Geneva. The US has not yet submitted evidence on China's industrial subsidies, but some experts have argued that developed countries granted much higher subsidies, such as export tax rebates, to their own industries. Mexico, Japan, the European Union and Australia will join the consultations as third parties.
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