China rare earth curbs distort world market: U.S

WASHINGTON (Reuters) - China's restrictions on exports of rare earth minerals and other raw materials are distorting world markets for a number of key products, and appear to part of a broader policy of forcing foreign companies to base their production in China, senior U.S. administration officials said on Tuesday.

President Barack Obama scheduled a news conference on Tuesday to discuss the United States, Japan and European Union's decision to challenge China's export curbs on rare earths at the World Trade Organization.

The senior administration officials, speaking on condition that they not be identified, said they hoped Beijing would take advantage of a 60-day window to resolve the trade dispute without formal litigation at the WTO.

The officials said the White House is determined to ensure China and other trading partners play by global trade rules, but they declined to comment on other possible cases that Washington could bring against Beijing.

Source: http://news.yahoo.com/china-rare-earth-curbs-distort-world-market-u-144520588.html

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