WTO Rules Against China’s Raw Materials Hoarding
The World Trade Organization ruled Tuesday that China was unfairly protecting its domestic manufacturers by limiting the export of nine raw materials that are used widely in the steel, aluminum and chemical industries.
Today, the WTO panel ruled for the United States, European Union and Mexico, all of whom had filed complaints against China using export duties and quotas to drive up the prices they pay for raw materials such as coke, bauxite and zinc.
The panel rejected China’s argument that its export limits were needed to “protect its environment,” and said those export restrictions should be removed.