From Reuters:
China has agreed to eliminate a dozen tax breaks and other subsidies the United States challenged this year at the World Trade Organization, resolving one of the series of trade spats between the countries.
“This outcome represents a victory for U.S. manufacturers and their workers,” U.S. Trade Representative Susan Schwab said on Thursday.
“The agreement also demonstrates that two great trading nations can work together to settle disputes to their mutual benefit,” she added. [Full Text]
Read also China Agrees to Remove Certain Export Subsidies by Steven R. Weisman from New York Times.