US challenges $100 bn in China rice, cereal subsidies

US President Barack Obama launched legal action against “unfair” Chinese rice, wheat and corn subsidies at the World Trade Organization on Tuesday, setting up a culturally sensitive multi-billion-dollar trade spat. The United States alleges that China doled out $100 billion in “market price support” for the grains, above levels agreed at the Geneva-based WTO. “When other countries flout the rules to try and undercut American workers and farmers, we hold them accountable,” Obama said in a statement announcing the action.

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