30 January 2012 16:49 [Source: ICIS news]
WASHINGTON (ICIS)--The World Trade Organisation (WTO) has ruled that ?xml:namespace>
US Trade Representative Ron Kirk said that a WTO dispute resolution appellate panel has ruled that various restrictions imposed on
Those raw materials are critical components in the manufacturing of steel, aluminium, chemicals and a wide range of other products, Kirk noted.
In limiting export volumes or imposing export duties on these raw materials,
The restraints included export quotas and export duties, minimum export pricing, export licensing and export quota administration requirements, according to the office of the
“Export restraints on these types of industrial products can skew the playing field against the
“They can artificially increase world prices for these raw materials while artificially lowering prices for Chinese producers,” the USTR said.
In addition, said Kirk, “Such export restraints can also create substantial pressure on foreign producers to move their operations and, as a result, their technologies to
The WTO dispute resolution panel found in favour of the
Kirk said that the WTO now will call upon
“Today’s report is a tremendous victory for the
He said that the Obama administration “will continue to ensure that
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
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