OECD notifies WTO on steel subsidy agreement progress

OECD notifies WTO on steel subsidy agreement progress

With a yesterday's report, OECD has notified WTO on the current status of the negotiations being held on the possible solutions of eliminating state subsidies on steel, worldwide. On the report, it is stated that a great progress has been obtained with such negotiations however, there are still matters to be settled. In the notification, it is emphasized that the outstanding matters are partly coming from Chinese end. This difference is deriving from China, defending the necessity of developing countries to be granted certain exceptions within the framework of the subsidy ban agreement. Together with China, other countries such as India have also been insisting on a special and different treatment for developing countries, as they can not be put in the same pot with developed countries in terms of economic power.