Editor’s Note: When you see the letters WTO, know that this organization exists only to manipulate markets and works in the interests of establishment and globalist monopolies.
William Wan, Keith B. Richburg and David Nakamura
March 13, 2012
The Obama administration filed a trade complaint on Tuesday asking China to loosen its restrictions on exports of rare-earth minerals — materials essential to the manufacture of a wide range of products, from missiles and computers to car batteries and cellphones.
In an appearance at the White House Rose Garden, President Obama announced that the United States has asked the World Trade Organization to facilitate formal consultations with China over its limits on rare-earth exports, in a case filed jointly with Japan and the European Union.
Officials in Beijing said Tuesday that China will vigorously defend its right to control the export of such materials. The official state-run news agency, Xinhua, warned that any U.S. move to lodge a trade complaint over the issue would “backfire.”
In choosing to make a stand, U.S. officials are highlighting an industry over which China has a near-monopoly. The country now produces more than 95 percent of the world’s rare-earth minerals, which are used in almost all advanced industrial products, from helicopter blades to solar panels to the batteries in electric cars to flat-screen televisions.
Also, Ultra 12 is back by popular demand! Get the ultimate source of energy at 40% off now!