British media: China is ready to eliminate tariffs and quota restrictions on exports of rare earths

According to the British Reuters reported on June 4, China's rare earth export tariffs and quota policy 2014 was earlier WTO (WTO) ruling, saying that these measures are discriminatory. According to "sources," said China is ready to eliminate tariffs and quotas on exports of rare earths controversial.

Reported that comply with WTO rules approach would be a technical adjustment of the Chinese government, but China hopes to improve pricing power and increase the share of downstream industries rare long-term plan has not changed.

"WTO ruling does not change China's policy affects only means available to China," said David Abraham independent resource analyst. "The current mainstream tools are taxes, exchange rates and the integration of a handful of industry regulatory initiatives. "

Reported that Chinese rare earth because of dissatisfaction with the global market price is too low, it is difficult to cover environmental costs of the production process, the implementation of strict export quotas and tariff measures in 2010. These measures resulted in rare-earth prices jumped threefold, but WTO expert panel in March that these tariffs so that China's domestic consumption shall enjoy an unfair advantage than foreign competitors, contrary to international trade rules.

According to reports, a "between industry and government sources" said that although China to appeal the decision, but it is forecast to remain no choice but to accept the ruling, and may 2015 be canceled rare earths, tungsten and molybdenum export restrictions. The source declined to be identified.


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