WTO has upheld ruling China violated trade rules onexport rare earths minerals

WTO upholds ruling against China’s rare earths exports

6:43 AM, 9th August 2014
WTO has upheld a ruling that China violated trade rules on the export of rare earths minerals

BERLIN, GERMANY: The World Trade Organization (WTO) has upheld a ruling that China violated trade rules with restrictions on the export of ‘rare earths,’ the minerals used in mobile phones, hybrid cars and other high-tech products. In March, the WTO dispute settlement panel found that China’s restrictions breach WTO rules. Its ruling followed complaints by the United States, the European Union and Japan.

In its ruling, WTO’s appellate panel rejected Beijing’s appeal, saying it hasn’t demonstrated that the export quotas that China applies to various forms of rare earths are justified. China has about one-third of global deposits of rare earths but accounts for more than 90 per cent of production. In 2009, it alarmed foreign companies by limiting rare earth exports in an attempt to boost its domestic manufacturing base.

“By upholding rules on fair access to raw materials, this decision is a win not only for the United Sates, but also for every nation that respects the principles of openness and fairness,” said Michael Froman, US Trade Representative.

 

© Bloomberg News 

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