March 13, 2012 9:06 PM

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US, EU, Japan files WTO case against China over "rare earth"<br/>

The U.S., Japan and the 27-nation EU today filed a complaint against China with the World Trade Organization in Geneva over unfairly limiting its exports of so-called &quot;rare earth&quot; minerals. They alleged that China, which controls 95 percent of the world&apos;s supply of rare earth metals, that are key components of many high-technology products, has imposed export restrictions that violate world trade rules. China says it adheres to WTO rules in exporting the minerals. Beijing says, it has restricted the exports in recent years in order to meet its own domestic manufacturing needs, and to ease the environmental impact from excessive mining. But U.S. says, China has reduced its export of the minerals in recent years, giving Chinese companies an unfair advantage in the production of high-technology products. The rare earth minerals are essential to the production of such common consumer items as flat-screen televisions, smart phones and hybrid cars, as well as advanced weaponry and wind turbines.

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