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China To Cut Production Of Rare Earth Minerals By 20 Percent, Threatens U.S. Manufacturing
In a week that saw Apple, Inc. become the most valuable company in U.S. history, China’s Ministry of Industry and Information Technology (“MIIT”) announced new rules that will reduce rare earth minerals output in China by 20 percent. Rare earth minerals are key inputs in the manufacture of the full spectrum of high-technology goods, including tablets, mobile phones, and televisions, batteries used in hybrid cars, wind turbines, and precision-guided bombs. More »
China Increases Efforts On Optimizing Geographic Distribution Of Industries
On July 27, 2012, MIIT issued the Industrial Transfer Guidance Catalogue (2012) (“Catalogue”), the first comprehensive policy document promulgated by the MIIT to promote the orderly transfer of industries among regions, mainly from developed regions to less developed regions. The Catalogue is a further effort by the Chinese government to carry out the industrial and regional development strategy for the 12th Five-Year period (i.e., from 2011 to 2015), after the promulgation of the Industrial Transformation and Upgrade Plan (2011-2015) earlier this year (see the March 2012 issue of the Trade and Manufacturing Alert). More »
Senator Schumer Raises Trade Concerns Over Chinese Bid For Canadian Oil Producer
On July 27, 2012, Senator Charles Schumer of New York sent an open letter to Treasury Secretary Timothy Geitner, who serves as the chairman of the Committee on Foreign Investments in the United States (“CFIUS”). Schumer urged the CFIUS to block the bid by China National Offshore Oil Corporation (“CNOOC”), a Chinese state-owned enterprise, for Nexen, Inc., an oil firm based in Alberta, Canada. According to Schumer, the United States is “committed to a fair, non-discriminatory review process by CFIUS, regardless of whether the foreign investor is private or state-owned.” At the same time, the United States is entitled to reciprocity in bilateral trade relations. Thus Schumer asked Geitner “to withhold approval of this transaction until China’s government has made tangible, enforceable commitments to ensure U.S. companies reciprocal treatment.” More »
WTO Panel Issues Report On China Electronic Payment Services
A WTO Panel, in a final report issued in July, ruled in favor of several U.S. claims that China maintains measures that unfairly discriminate against foreign suppliers of electronic payment services by modifying conditions of competition in favor of China’s national bank card association, China UnionPay (“CUP”). The electronic payment services addressed in this dispute related to services for processing payment card transactions, including credit and debit card transactions. The United States had challenged various Chinese measures relating to electronic payment services as contrary to China’s commitments under the WTO’s General Agreement on Trade in Services (“GATS”). More »
- Solar Trade War Escalates – The United States imposed preliminary countervailing and antidumping duties on crystalline silicon photovoltaic cells and modules from China. The U.S. Commerce Department is scheduled to issue its final rulings in the solar panel case on October 9, 2012. More »
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