Global export restrictions on critical materials have grown more than five-fold over the last decade, the OECD said on Tuesday, potentially impeding governments' efforts to reduce carbon emissions.
About a tenth of the global value of exports of raw materials, such as lithium, cobalt and rare earths, needed for electric vehicles and renewable energy, have faced at least one export restriction measure, a study by the Organisation for Economic Co-operation and Development found.China, India, Argentina, Russia, Vietnam, and Kazakhstan were the top six countries in terms of number of new export restrictions during 2009-2020, the scope of the study.
The measures often took the form of export taxes instead of caps on quantities, which are generally prohibited under World Trade Organisation rules while taxes are not, the report said. Global export restrictions on critical materials often take the form of export taxes, a report by the OECD saidProduction of critical raw materials has become more concentrated in the last decade, with China among the top three producers of six out of the 10 most concentrated materials, the study said.to ensure its industry can compete with the United States and China in making clean-tech products and accessing raw materials required for the green transition.
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