U.S. and EU File Case Over China's Tariffs - by John W. Miller
The U.S. and the European Union filed a formal complaint at the World Trade Organization over China's steep export tariffs on strategic raw materials, further ratcheting up pressure on China's trade policies. At issue are levies and quotas China imposed two years ago during the commodity boom, as part of an attempt, only marginally successful, to stem the rising flow of key industrial minerals from the country. It is the latest volley amid rising trade tensions among the world's three major trading blocs, as President Barack Obama prepares for a visit to China this month. This year, the WTO has ruled against Chinese restrictions on distribution of Western music and movies; against the EU over subsidies for commercial aircraft; and received a Chinese complaint over EU anti-dumping measures.
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