U.S. Takes China Trade Cases to WTO

(Industry Week – Agence France-Presse)

Trade tensions between the United States and China ratcheted up another notch on Sept. 15, as Washington called on the WTO to probe unfair Chinese trade practices. The United States asked the World Trade Organization to investigate China’s allegedly unfair treatment of U.S. steel and electronic payment providers, the first step toward sanctions.

“We are concerned that China is breaking its trade commitments to the United States and other WTO partners,” U.S. trade representative Ron Kirk said. Amid mounting U.S. anger about China’s trade policies, Kirk’s office said it would ask the WTO for “consultations” about Beijing’s policies, a step that could lead to sanctions. Read more here.

Backlash Over China Curb on Metal Exports

(The Telegraph – Ambrose Evans-Pritchard)

China’s draconian export curbs on rare earth minerals needed by the rest of the world for frontier technologies is escalating into a serious diplomatic and trade clash with the United States and other leading powers.

Japan’s foreign minister Katsuya Okada issued what amounted to a formal protest at top-level meeting with Chinese officials in Beijing over the weekend, saying the sudden cut-off was “affecting the global production chain”.

It is the latest sign of rising pressure after angry complaints by companies outside China that rely on this family of 17 metals for hybrid cars, mobile phones, superconductors, navigation, and a host of high-tech industries. Read more here.

Treasury Publishes Names of 21 Entities Determined to be “Government of Iran”

(World Trade Interactive)

The Treasury Department’s Office of Foreign Assets Control has published the names of 21 entities it has determined to be the “government of Iran,” as that term is defined in the Iranian Transactions Regulations.

The ITR, in implementing executive orders imposing comprehensive trade and financial sanctions on Iran, prohibit various transactions, including those with the government of Iran. As defined in the ITR, that term includes (a) the state and the government of Iran, as well as any political subdivision, agency or instrumentality thereof, (b) any entity owned or controlled directly or indirectly by the foregoing, and (c) any person to the extent that such person is or has been, or to the extent that there is reasonable cause to believe that such person is or has been, acting or purporting to act directly or indirectly on behalf of any of the foregoing. OFAC is now publishing the names of 21 additional persons it has determined to fall within this definition, and the names of these persons will be added to Appendix A to Part 560 of the ITR at a later date. Read more here.