WTO TO EXAMINE CHINA POLICY: The World Trade Organization has established a dispute panel to examine allegations by the U.S. and Mexico that China grants Chinese companies refunds, reductions or exemptions from taxes that are in breach of global subsidy rules. The U.S. delegation told a session of the WTO's Dispute Settlement Body that it wanted to reach a mutually acceptable solution but was unable to do so. China said it was "very disappointing and deeply regrettable" that the U.S. and Mexico requested a panel and stressed it will defend its position and is confident the measures are consistent with WTO norms. China blocked a request by the U.S. for a WTO panel to be formed to investigate its complaint that China doesn't have strong enough criminal procedures and penalties for trademark counterfeiting or copyright piracy, which cost U.S. firms billions of dollars annually.

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