Obama warns China against 'skirting the rules' - WMC Action News 5 - Memphis, Tennessee

Obama warns China against 'skirting the rules'

President Barack Obama meets with Chinese President Hu Jintao at the White House (outdoors) during an official state visit White House. President Barack Obama meets with Chinese President Hu Jintao at the White House (outdoors) during an official state visit White House.

By JULIE PACE
Associated Press

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.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly