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The Wall Street Journal Market Watch reports that The World Trade Organization will issue a preliminary report on Friday stating that China has no legal right to impose export restrictions on nine raw materials.
The Wall Street Journal Market Watch reports that The World Trade Organization will issue a preliminary report on Friday stating that China has no legal right to impose export restrictions on nine raw materials.
The market news is quoted as saying:
The quotas, license requirements and other measures on industrial ingredients such as zinc and coke, many vital for making steel, have been a key irritant in China’s simmering trade tensions with trading partners.
“This [case] is a punch against China’s trade policy,” says Simon Evenett, an economist at the University of St. Gallen in Switzerland. “It means you can’t use protectionism as a policy tool on natural resources.”