(MENAFN- Qatar News Agency) Beijing August 09 (QNA) - China's Ministry of Commerce (MOC) said that it regretted the World Trade Organization's (WTO) decision to uphold a previous ruling against China's management of rare earth exports. China regretted the WTO's final ruling that China's export duties quotas and administration of rare earths tungsten and molybdenum products were inconsistent with WTO rules and China's Accession Protocol said a MOC official. But China welcomed the WTO's decision to support China's appeal while not supporting the appeal lodged by the United States after the previous ruling the official said. The WTO in late March ruled that China had acted inconsistently with WTO rules with regard to export measures imposed on rare earth materials. China lodged the appeal to the WTO against its ruling in April. The European Union Japan and the United States teamed up to bring a joint case in March 2012 to the WTO over China's measures on exports of rare earths tungsten and molybdenum. They claimed that the restriction had limited other countries' access to the minerals given China a competitive advantage and hurt other producers and consumers. (QNA)
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.