27 June 2012 19:13 [Source: ICIS news]
WASHINGTON (ICIS)--The ?xml:namespace>
US Trade Representative (USTR) Ron Kirk said that the EU and
The formal request for a full dispute settlement panel comes some three months after the US, EU and Japan first asked the WTO to oversee consultations with China on the matter in hopes of resolving it without a full dispute resolution proceeding.
But Kirk said that talks held 25-26 April between the
The 17 chemical and mineral substances known as rare earths are crucial to refining, petrochemicals production and other industries, such as manufacture of weapons and space systems, lasers and fibre optic communications, to name but a few applications.
Despite the name, rare earth elements are not actually rare – most of them are found in almost any soil around the world – but extremely rare are those areas in which these substances can be found in concentrations that make mining them commercially feasible.
In announcing the decision to pursue the rare earths complaint to a full WTO dispute panel, Kirk said that “it is vital that US workers and manufacturers obtain the fair and equal access to raw materials like rare earths that
China was admitted to the WTO in late 2001 over the objections of many in the US, and especially among those in Congress, who argued that China’s Communist-dominated, command economy was not eligible for membership and warned that Beijing would not honour WTO rules.
The escalated US and multinational complaint against
In that ruling, China was found to be restricting the flow of other raw materials essential to various
A WTO dispute settlement panel would be expected to deliver its ruling within six to eight months.
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
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