US softening its position on China's industrial subsidies

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      According to two sources familiar with Sino-US trade negotiations, the US negotiators'position on restricting industrial subsidies by China as a condition of trade agreements has eased. This means that the United States is retreating from one of the core objectives of trade negotiations.
The trade war between China and the United States has lasted for nine months, causing billions of dollars in losses, disrupting financial markets and destroying supply chains.
The issue of industrial subsidies is tricky because it is intertwined with the industrial policies of the Chinese government.
Sources said that in an attempt to reach an agreement in the next month or so, U.S. negotiators softened their position on subsidies cuts and focused on other areas they thought would be easier to meet.
"It's not going to be left out of the question, but it's not going to be very detailed or specific," said a source familiar with the negotiations, referring to the issue of industrial subsidies.
White House representatives suggested Reuters ask the U.S. Trade Representative's office, but the latter did not respond to requests for comment.
"If American negotiators define success as changing the way China's economy operates, it will never happen," said another source familiar with trade negotiations.


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