China announced its decision against the rare earth WTO ruling appeal

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China's Ministry of Commerce (MOFCOM) announced on 17. April bekannt, dass es gegen das Rare earth WTO-Urteil Berufung einreichen wird. “We will make every effort, appeal to appeal. Regardless of the outcome of the appeal, will not change China's political objectives with regard to the protection of the environment and resources. We will continue to drive the management of extractive industries and thus follow the WTO rules and support fair competition.”, said the MOFCOM spokesman Shen Danyang, on Thursday on a monthly briefing.

The U.S., Japan and the EU could in the case of the rare earths in the WTO last month recorded a victory over China. The WTO Committee decided, that various Chinese export duties and quotas would violate the WTO obligations and can not be justified as exceptions.

China is of the opinion, that the “WTO ruling concerning whether. of the rare earths is unfair”, and led to re-, that the restrictions to be there, to conserve scarce resources and protect the environment.

At the 8. April placed the victorious USA a preventive appeal against a decision of the WTO Committee concerning whether. the Chinese rare earths a, to accelerate following appeal. Trevor Kincaid, a spokesman for the Office of the Trade Representative (USTR) said "This is a pre-emptive strike, for an order requiring urgent assistance for American businesses and workers”. However, some experts are of the opinion, that “The United States serves the submission of a complaint to the WTO Dispute trying, China keep them from delaying compliance with its obligations under the WTO decision. Basically, the appeal focused on a few fairly minor questions of evidence, do not have much influence on the case have ". The U.S. pre-emptive strike makes it clear, that the United States give their opponents no respite in this case.

“The loss of the action could be attributed to the administrative measures, which would mean, that they had not met the expectations placed on them and the government should review its management system. Both, sowohl die Zentralregierung als auch die innerstaatlichen Regierungen sollten präziser und feinfühliger bei der Umsetzung dieser Art von Politik sein.”, soft Liu Jingdong, Direktor des internationalen Wirtschaftsrechts am Institute für internationales Recht an der Chinesischen Akademie der Sozialwissenschaften, in an interview with the Economic Information Daily under the Xinhua News Agency.

China stellt 90% of the world's rare earth production. Even in the case of a final defeat before the WTO, to the country will focus on the rationalization and control of domestic production, to strengthen its export restrictions. The government may resources- increase and environmental taxes, to increase the prices as well as strategic reserves to build up supply and demand on the market to regulate. It is expected, dass die Baotou Rare Earth Products Börse den seltenen Erden Spot-handel des Landes regulieren wird.

According to China's customs authority, exports of rare earths increased by 82,2 % over the previous year on 7.174 Tons of rare earth ore, Metals and compounds in first quarter, while the total export value to 2,7% over the previous year on $95.573.000 increased during the same period.

In March alone, China's rare earth exports rose to 62,4% over the previous month and to 55% over the previous year on 2.671 Tons of rare earth ore, Metals and compounds. The average export price rose by 14,9% In contrast to the previous month and fell by 36,9% compared to the previous year to 13472,5 U.S. $ per tonne published by the China Customs Statistics Information Center according to the latest data. The average export prices of rare earths has recovered slightly this month. China's new round of REE warehousing boots the price.

Source: Those: Shen, Hongpo (17. April 2014) China announces decision to appeal against the WTO rare earth ruling.

http://investorintel.com/rare-earth-intel/china-announces-decision-appeal-wto-rare-earth-ruling/

 

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