U.S., European Union File Complaint Over China’s Trade Restrictions
The Obama administration and the European Union (EU) announced yesterday they plan to jointly file a complaint at the World Trade Organization (WTO) over China’s trade restrictions on exports of key raw materials used to manufacture products such as baseball bats, contact lenses and plumbing fixtures.
When China joined the WTO in 2001, it committed to remove the export restrictions on the raw materials. The export restraints are significant because China is the largest global producer of many of the raw materials in question—bauxite, coke, zinc, silicon metal, silicon carbide, fluorspar, yellow phosphorous, magnesium and manganese.
