The Chinese government is drafting a new regulatory system for exports, and while the policies are being framed, the shipments of the magnets, essential for the manufacturing of almost everything ranging from cars to missiles, have been halted at many Chinese ports, according to the report.

On April 4, China imposed new restrictions on the export of six heavy rare earth elements—metals that are refined exclusively in China—as well as rare earth magnets.

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Source: https://seekingalpha.com/news/4430682-china-suspends-rare-earth-exports-as-trade-war-with-us-escalates—report

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China’s ambassador to the WTO Li Chenggang spoke at a meeting on trade disputes shortly after the United States lodged an appeal against a series of WTO rulings involving China, Turkey, Norway and Switzerland which found that U.S. metal tariffs breached global rules.

“These troubling behaviors of the U.S. have clearly depicted an image of the U.S. as a unilateral bully, a rule breaker, and a supply chain disruptor,” he said, according to a copy of his speech obtained by Reuters.

The WTO has made important rulings against the United States in recent weeks, including the metals ruling involving China and a separate dispute with Hong Kong over labeling which Washington also appealed. Washington, which has long criticized the WTO dispute system for overreach and is leading discussions on reforming it, has criticized both rulings.

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Source: https://www.reuters.com/world/china-calls-washington-bully-wto-trade-disputes-meeting-2023-01-27/

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The post China, U.S. spar at WTO meeting over disputes first appeared on Garner Ted Armstrong Evangelistic Association.