Obama: China cannot escape the Trade Rules.
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Obama: China cannot escape the Trade Rules.

Beijing : China | Mar 13, 2012 at 2:20 PM PDT
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The US President defended the decision of his country, the European Union and Japan raise a demand to the World Trade Organization (WTO) by the sale of rare earths.

"Rare earths are too important for us to remain on the sidelines", indicated the President to refer to the trade dispute by the restrictions imposed by Beijing on the export of these minerals, fundamental industries of telecommunications and other items. The Government would take "the necessary actions if our workers and businesses are affected", he promised.

According to Obama, the United States prefer to negotiate directly with their trading partners, but if necessary, it shall also take strong measures against "unfair practices". "Cannot escape the rules", said the President to the press.

China concentrates more than 95% of the production of the so-called rare, such as scandium, yttrium and lanthanum, which are used in the manufacture of batteries for hybrid vehicles and advanced technology. This advantageous position has led the Government to impose barriers to the export, quotas and rights, technical standards or control prices, forcing many companies to move their factories to China.

But for Obama, these elements are essential to "take control" of his country's energy future. "We want our companies to build those products here in the United States, but we need access", stressed the President, so it asked China to abide by its commitments as a member of the WTO and leave to go against the rules of the free market.

Furthermore, he asserted that it will not allow that the American energy industry "take root in another country, because they (China) allow breaking the rules". He also promised to work to "pave the conditions" workers and American companies that will be affected by trade practices that prevent them to compete globally.

Obama recently announced the creation of an agency to monitor and enforce international trade rules with other countries and avoid measures such as dumping (artificially low prices) or non-tariff barriers.

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Vicky247 is based in Lahore, Punjab, Pakistan, and is a Reporter on Allvoices.
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