Europe steps up challenge over China's rare metal restrictions

The European Union today launched a second challenge of China's export restrictions on raw materials including 17 rare earths, as well as tungsten and molybdenum, that are critical in the development of green technology. Together with the US and Japan, the EU formally requested dispute settlement consultations with China in the World Trade Organization (WTO). This follows a successful EU challenge at the WTO on similar restrictions for other raw materials earlier this year. China imposes a set of export restrictions, including export quotas, export duties and additional requirements that limit access to these products for companies outside China. These measures significantly distort the market and favour Chinese industry at the expense of companies and consumers in the EU.