Tags: Obama | China | Trade

Obama Warns China Against 'Skirting the Rules' on Trade

Tuesday, 13 Mar 2012 11:16 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

WASHINGTON — President Barack Obama warned China Tuesday that it would not be allowed to gain a competitive advantage in world trade by "skirting the rules."

Making an election-year pitch aimed at working people, Obama announced that Washington is bringing a new trade case against Beijing. The goal is to pressure the rising Asian economic power to end its restrictions on exports of key materials, known as rare earth, which are used to manufacture hybrid car batteries, flat screen televisions and other high tech-goods.

"If China would simply let the market work on its own, we'd have no objection," Obama said during remarks at the White House. "But their policies currently are preventing that from happening. And they go against the very rules that China agreed to follow."

The United States, working in conjunction with the European Union and Japan, asked the World Trade Organization Tuesday to facilitate talks with China over its curtailment of exports of rare earth minerals.

"When it is necessary, I will take action if our workers and our businesses are being subjected to unfair practices," Obama said.

With the U.S economy slowly recovering from recession, Obama has sought to bring a renewed focus on Chinese policies that could hinder U.S. expansion. His administration's posture on China has already surfaced in the run-up to the Nov. 6 elections, with Republican front-runner Mitt Romney criticizing Obama for refusing to cite China for manipulating its currency. Romney has said he would label China a currency manipulator on his first day in office, a move that could lead to trade sanctions against Beijing.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Report: Change in Speaker Rules Could Harm GOP Dissenters

Friday, 19 Sep 2014 23:27 PM

House Republicans are considering a plan on selecting future speakers in an effort to avoid the embarrassing vote surrou . . .

Rep. Stockman to Newsmax: Arm Kurds, Don't Train Syrian Rebels

Friday, 19 Sep 2014 21:36 PM

Instead of spending any of the $500 million Congress approved this week to train Syrian rebels to fight the Islamic Stat . . .

Ted Cruz: A Nuclear Iran Remains 'Most Significant Threat'

Friday, 19 Sep 2014 20:42 PM

Iran's nuclear ambitions are a bigger threat to America than the Islamic State (ISIS) militants, Sen. Ted Cruz says.

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved