US To Add Tax Subsidies On Chinese Products


(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, April 4 (KUNA) -- The US is planning to add tax subsidies on Chinese products to protect its industries affected by the overflow of Chinese products.
In a statement to reporters late Wednesday, US Secretary of the Treasury Janet Yellen, who is set to start a second-of-its-kind visit to China, said the US is seriously considering the flexibility of supply-chains, while it seeks to reduce the high dependency on Chinese clean energy supplies.
China is providing cheaper products in the international markets, which reduces demand on similar products from other rival-countries, especially the USA, she explained.
The US is concerned that the impact of cheaper Chinese products could spread to other countries like Japan, Mexico and Europe, Yellen.
Yellen is set to visit China from April 4-9 to meet with senior Chinese officials and senior CEOs of American companies.
The two sides will discuss global economy issues, efforts to limit drugs smuggling and boosting cooperation to fight climate change. (end)
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