Chinese officials said Wednesday they will “properly
follow up” a World Trade Organization finding that the country broke global
trade rules by limiting exports of raw materials needed to make products
ranging from steel to electronics.
The WTO panel Tuesday rejected Beijing’s argument
that the curbs were needed to protect China’s
environment, ruling instead in favor of the United
States, the European Union and Mexico. The
ruling affects the export of nine raw materials, including coke, bauxite,
magnesium, silicon metal and zinc.
China’s
official Xinhua news agency quoted Ministry of Commerce officials saying
Wednesday that several aspects of the ruling were favorable to China. But,
they said, the government “feels regret” over the findings that its actions
were inconsistent with WTO rules. Read more here.
