Press Release, Business Wire
At a press conference this morning, President Barack Obama addressed China’s increasingly restrictive policies on rare earth exports. Earlier on Tuesday, the European Union, the United States and Japan filed a case with the World Trade Organization in an effort to address Beijing’s tough export quotas.
The President indicated that he is committed to ensuring all countries are on a level playing field when it comes to trade policies, adding, “You will not get away with skirting the rules.”
Jeff Green, an advocate for the rare earth industry responded to the President’s announcement and said, “While this is encouraging news for downstream consumers of rare earth elements, this is just the first step of a very long process.”
Last week the largest U.S.-based REE producer announced it will acquire a rare earth processing company with significant operations in China, potentially feeding U.S. natural resources into the China quota system. In light of this industry development, Green indicated that attention must be paid to rare earth suppliers.
“As the WTO case progresses, the off-shoring of industry and technology will continue and the U.S. will need a secure supply of rare earths to protect its economic and national security interests. This must be addressed through the establishment of a truly domestic or allied nation supply chain,” Green said.
Green founded J.A. Green & Company in 2007 and has since brought much political attention to the issue of rare earth materials. Most recently, Green testified before the U.S.-China Economic and Security Review Commission on China’s resource policies and its implications for the United States.