WASHINGTON, D.C. – The World Trade Organization's appeals board today upheld findings that China unfairly hoarded rare-earth materials needed by the United States and other countries for manufacturing.
This should force China to release more tungsten, molybdenum and other rare-earth materials, used by companies in the manufacture of lighting, solar power parts, wind turbines, hybrid car batteries and other products.
Tungsten and molybdenum are valued for their strength and ability to withstand high temperatures.
China controls 97 percent of these materials, according to American lawmakers who said China's quotas, heavy tariffs and minimum export prices, imposed by Beijing in 2010, hurt manufacturers across the globe. Along with the United States, Japan and the European Union also complained in 2012 about China's hoarding.
To read the full article, click the link below.WTO upholds trade case against China, whose hoarding harmed Ohio companies »