BEIJING — The WTO’s latest ruling against China has rankled feathers in Beijing, perhaps increasing frictions further between China and its top trade partners.
This week, the WTO upheld a ruling in a complaint from the United States, European Union and Mexico over China’s exports of raw materials. The partner nations say China’s export restrictions on nine raw materials including zinc and magnesium had led to inflated prices worldwide.
RELATED STORY: WTO Says China Violated Trade Rules >>
In a statement on its Web site, China’s Ministry of Commerce said it welcomed the chance to appeal the ruling, but regrets the decision and that the news could affect its own efforts to protect China’s environment. The countries that filed the complaint charge that China’s export restrictions were strictly an effort to commandeer world markets and unfairly manipulate competition.
“The WTO should not only uphold free trade but also allow members to take necessary steps to protect the environment and natural resources,” the Commerce Ministry said in its statement.