NEW : The United States accuses China of hoarding the valuable minerals for its own use . Chinese policy is good , but Beijing must follow the rules , the White House says . President Obama says the United States , European Union and Japan take action . China says its policy on rare earths is in line with WTO standards . China produces 97 % of all rare metals , which are used to make high - tech products .
NEW : Chinese policy is good , but Beijing must follow the rules , the White House says . President Obama says the United States , European Union and Japan take action . China says its policy on rare earths is in line with WTO standards . China produces 97 % of all rare metals , which are used to make high - tech products .