GENEVA / BRUSSELS (dpa-AFX) - China has again suffered a defeat in the dispute over its export restrictions for rare earths at the World Trade Organization (WTO). The WTO arbitration tribunal on Thursday rejected China's appeal against its earlier decision that Beijing violated the rules of free world trade with export quotas for rare earths.
Beijing could not prove at its appeal that the restrictions on the export of the mainly for the construction of equipment such as cell phones or flat screens are needed raw materials. The WTO had previously voted against a similar complaint by the EU, the US and Japan against Chinese practice.
From China come over 90 percent of the rare earths. It justified the export restrictions by saying that it wanted to protect its environment and natural resources. The WTO, on the other hand, had criticized the fact that raw materials are limited only for export, but are fully available to the Chinese internal market.
EU Trade Commissioner Karel De Gucht said that the WTO's decision sends “a clear signal that export restrictions cannot be used to protect or promote domestic industries at the expense of foreign competitors.” He assumes that China will now implement its regulations will quickly bring it into line with international requirements./bur/hrz/DP/stk
Source: http://www.finanztreff.de/news/roundup-wto-WEIS-berendung-chinas-im-streit-um-seltene-erden-zurueck/9944105
