Rare-Earths Spat With China Could Be 'Slam Dunk' for U.S. Firms
Updated from 9:30 a.m. ET. Correction: China argued Article XXXVI of GATT at the July WTO Panel, not in the January Appellate Body decision
NEW YORK (TheStreet) -- Companies trading on American exchanges could be due for a sweet slam dunk on China.
Businesses that sell advanced batteries, wind turbines, hybrid cars and more advanced technologies received some promising news from Barack Obama Tuesday when the president announced the United States would challenge China's export quotas on rare-earth elements.
"If China would simply let the market work on its own, we'd have no objection," Obama said. "But their policies currently are preventing that from happening. And they go against the very rules that China agreed to follow."