China's imposed limits on the exports of its rare earth elements are against global trade rules, the World Trade Organization (WTO) ruled yesterday, providing a victory for Europe and the US who had argued that the practice was unfair.
“Today’s ruling by the WTO on rare earth shows that no one country can hoard its raw materials from the global market place at the expense of its other WTO partners,” said EU Trade Commissioner Karel De Gucht. The Chinese Ministry of Commerce said the country had imposed the limits to enhance the management of resource…
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