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NFTC Applauds the WTO Appellate Body Ruling on Chinese Export Restrictions of Raw Materials
Date: 1/30/2012
Written By: Jennifer Cummings, The Fratelli Group for NFTC, (202) 822-9491

Washington DC Following today's announcement by the World Trade Organization's (WTO) Appellate Body affirming that Chinese export restrictions on raw materials violate global trade rules, the National Foreign Trade Council (NFTC) released the following statement:

"The NFTC applauds the WTO Appellate Body's ruling on Chinese export restrictions of raw materials, as it confirms once again the importance of the WTO in imposing market-based discipline on the world trading system.

"Export restrictions such as those by China cited in this case are a form of protectionism, disrupting global supply chains with the potential to create artificial shortages and raise world prices of downstream goods ultimately undermining the integrity of the trading system.

"Today's ruling also has implications beyond its immediate impact because of other raw material export restrictions on rare earth minerals that China maintains. These raw materials are vital in the production of technology-based inputs to an increasing number of everyday products, making this an issue that affects a broad swath of U.S. technology-based companies."
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About the NFTC
Advancing Global Commerce for Nearly A Century- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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