Obama: China cannot escape the Trade Rules.

Obama: China cannot escape the Trade Rules.

Beijing : China | Mar 13, 2012 at 2:20 PM PDT
Views: Pending
Davos Annual Meeting 2010 - Redesigning the Global Dimensions of China's Growth

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.

1 of 26
Obama speaks about China trade in Washington
Obama speaks about China trade in Washington
Vicky247 is based in Lahore, Punjab, Pakistan, and is a Reporter on Allvoices.
Report Credibility
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear

News Stories

  • AP Source: US brings new trade case against China

      The Tribune
    The fresh action is part of President Barack Obama's broader effort to crack down on what his administration sees as unfair trading practices by China that have put American companies at a competitive disadvantage. Obama was to announce the WTO...
  • US raising rare earth case against China may backfire

    The US decision to bring a lawsuit against China over its rare earth export quotas is likely to hurt bilateral trade ties and trigger a backlash from China instead of settling the rift. US President Barack Obama Tuesday will announce the United...
  • China defends rare earth export restrictions

      Channel NewsAsia
    China on Tuesday defended its restrictions on exports of rare earths, as Washington prepares to launch a fresh trade suit against Beijing on the key materials at the World Trade Organization. "Based on environmental protection and in order to achieve...
  • Obama warns China against rare earth export curbs

      Zee News
    Obama's warning came as his administration along with the European Union and Japan sought consultations with China at World Trade Organisation (WTO) with regard to its alleged unfair export curbs on rare earths, tungsten and molybdenum. "You will not...
  • WTO Case Filed Against China Over Rare Earth Metals

      Voice of America
    praseodymium, cerium, lanthanum, neodymium, samarium, and gadoliniun, October 7, 2010. The United States, the European Union and Japan are accusing China of unfairly limiting its exports of so-called "rare earth" minerals that are key components of...
  • US, EU, Japan challenge China over minerals trade

      AP Online
    The United States, the European Union and Japan filed complaints Tuesday with the World Trade Organization charging that China is limiting its export of rare earths, minerals that are vital to the production of technology components.





More From Allvoices

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report

Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.