Advanced Search

The story appears on

Page A9

July 21, 2016

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Finance

China curbs conform to WTO rules

Source: Xinhua | July 21, 2016, Thursday | Print Edition

CHINA has insisted its duty and quota requirements on the export of 11 raw materials conform to WTO rules, after the United States on Tuesday expanded its challenge at the World Trade Organization to China’s export restraints on key raw materials.

The US requested consultation with China on the country’s export duties on chromium, as well as China’s export quotas on antimony, indium, magnesia, talc and tin, said the Office of the US Trade Representative.

USTR claimed that China’s export curbs on these materials, including duties and quotas, provide an unfair competitive advantage to China at the expense of American workers and manufacturers.

On Tuesday, the European Union also launched a legal challenge at the WTO to China’s duty and quota requirements on the export of 11 raw materials, including graphite, cobalt, copper, lead, chromium, magnesium, talcum, tantalum, tin, antimony and indium.

The Ministry of Commerce said in a statement that the duty and quota requirements on the export of 11 raw materials conform to WTO rules. The export controls on graphite, cobalt, copper, lead, chromium, magnesium, talcum, tantalum, tin, antimony and indium are imposed to protect the country’s resources and the environment, said the statement.

“They are part of the comprehensive measures to strengthen the protection of the ecological environment and are in line with WTO rules,” it said.

The ministry said China will properly handle the case in accordance with WTO dispute settlement procedures.

The US challenges over China’s export restraints on raw materials came at a time of increasing anti-trade rhetoric in the current US presidential campaign.

The Obama administration wants to demonstrate a tough stance on enforcing trade agreements, in a bid to draw lawmakers support to ratify the Trans-Pacific Partnership trade agreement, a top legislative priority for President Obama this year.

Last week, the US also requested consultation with China at the WTO over its export duties on nine different raw materials — antimony, cobalt, copper, graphite, lead, magnesia, talc, tantalum and tin.

Consultations are the first step in the WTO dispute settlement process. If the US and China are not able to reach a mutually agreed solution through consultations, the US may request that the WTO establish a dispute settlement panel to examine the matter.

Finance


 

Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend