Obama warns China against 'skirting the rules'
Monday, March 12, 2012
WASHINGTON (AP) -- President Barack Obama says he's putting China and America's other economic competitors on notice that they won't get away with "skirting the rules" on international trade.
Talking about an issue likely to surface in the general election, Obama says the U.S. is bringing a new trade case against China because of its export restrictions on key materials used to manufacture high-tech goods. The U.S. is taking its case to the World Trade Organization along with the European Union and Japan.
Obama made his statement in the White House Rose Garden Tuesday. He said Chinese restrictions on exports of rare earth minerals prevents trade from happening as it should. And he added that the rare earth materials are too important to U.S. businesses for his administration to stand by and do nothing.