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(Update) Japan, U.S., EU Propose New WTO Subsidy Rules

(Update) Japan, U.S., EU Propose New WTO Subsidy Rules

   Washington, Jan. 14 (Jiji Press)--Japan, the United States and the European Union on Tuesday proposed expanding a ban on market-distorting subsidies under World Trade Organization rules, a measure apparently targeted at China.
   The three economies hope to win support for the proposal from a wide range of WTO members toward a ministerial meeting of the global trade governing body in June, officials said.
   The proposal was agreed at a meeting of Japanese trade minister Hiroshi Kajiyama, U.S. Trade Representative Robert Lighthizer and European Commissioner for Trade Phil Hogan.
   "We've adjusted our views and agreed that we'll make something sturdy, not a product of compromise," Kajiyama told reporters after the meeting.
   Hogan said in a statement that what he agreed on with Kajiyama and Lighthizer is "a symbol of a constructive strategic collaboration between three major players in global trade."

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AFP-JIJI PRESS NEWS JOURNAL


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