China offers spending-cap options in WTO fisheries negotiations

China this week proposed new rules that would allow World Trade Organization members to choose one of three spending caps to limit fisheries subsidies and establish “green box” fisheries subsides without explicitly banning subsidies that contribute to illegal, unreported and unregulated fishing. The fisheries negotiations are the latest forum in which the U.S. and China are squaring off over how the WTO should handle special and differential treatment. The U.S. has said the fisheries negotiations will be a litmus test...