EU, U.S. Want WTO Probe on Chinese Export Restrictions

Officials from the European Union and the U.S. have asked the World Trade Organization to look into China’s restrictions on exports of raw materials used by the steel and chemical industries, reports Bloomberg.

 

According to Bloomberg, the complainants claim that China uses special taxes intended to discourage the export of 20 metals or chemicals as a way to keep them inexpensive and available to domestic manufacturers. The materials, including coke, bauxite and manganese, are used by the steel, aluminum and chemicals industries.

 

The world's fastest-growing major economy, however, has defended its policy, saying the measures are designed to protect the environment and natural resources and are “in accordance with WTO rules.”

 

Quoting the European Commission, Bloomberg says that export restrictions discourage companies from being more productive and competitive.

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