China sets up rare earths industry group
The White House recently filed a request for consultations at the World Trade Organization (WTO) regarding China’s export restrictions of rare earth metals, as well as tungsten and molybdenum.
Rare earth metals are used in a broad range of manufactured products: auto parts, lighting, wind turbines, and countless other goods. The European Union and Japan have filed suit against China as well.
The Associated Press reports that, in response, China has set up a rare earths industry association to "fend off trade complaints and help regulate the sector that is critical to global high-tech manufacturing."
The Ministry of Industry and Information Technology announced the group’s founding Sunday, saying it would coordinate mining, smelting and processing and seek to form a “reasonable price mechanism” for the materials, used in many high-tech applications.
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