China lost an appeal on Thursday of a World Trade Organization ruling that found it had broken international trade law by restricting exports of raw materials used in hybrid car batteries and other energy-efficiency products.
The dispute, pursued by the United States in cooperation with the European Union and Japan, emerged after China significantly reduced its export quotas for rare earth elements in 2009, causing world prices to soar and disrupting the global market for the materials. The dispute also involved two metals used in steel alloys, tungsten and molybdenum.
The W.T.O. panel in Geneva that heard Beijing’s appeal issued a 177-page report that concluded China failed to demonstrate that its export quotas on the materials were justified.
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bljworldwide via CHINA US Focus http://ift.tt/1oq4Kwp
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