The Ministry of Commerce said it is disappointed with the World Trade Organization’s decision Wednesday that determined China’s restrictions on rare earth export as unlawful, Xinhua reported Thursday. The ministry said China’s policies on export quotas complied with WTO rules and addressed environmental concerns. China has 23 percent of the world’s rare earth reserves and supplies over 90 percent of the world’s demand. The United States has lowered its rare earth export quotas to zero in recent years, despite having 15 percent of the world’s reserves, the ministry added. China has 60 days to appeal against the decision, and the WTO will hand down a final ruling in three to four months’ time, the report said.
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