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EU Welcomes WTO Trade Ruling Against China

Posted August 12, 2014

Under Economic Issues, International Trade Issues

(Ulrika Lomas – Tax-News)

The Appellate Body of the World Trade Organization (WTO) ruled in favor of the European Union on August 7, 2014, when it confirmed the findings made by a Panel in March 2014 that China's export restrictions on rare earth, as well as tungsten and molybdenum, are in breach of WTO rules.

According to EU Trade Commissioner Karel de Gucht, the result represents “another milestone in the EU's efforts to ensure fair access to much-needed raw materials for its industries. This ruling sends a clear signal that export restrictions cannot be used to protect or promote domestic industries at the expense of foreign competitors.” Read more here.