Japan’s public broadcaster NHK reports that the U.S., the EU and Japan will file a complaint with the World Trade Organization (WTO) over China's restrictions on the exports of rare earth elements as early as this week.

The U.S., EU and Japan have held discussions with China to settle the issue. But as China has adhered to its policy of restricting exports of rare earth elements, the three countries will demand that the WTO set up a dispute settlement panel on the issue.

The U.S., EU and Japan argue that China, being the world’s largest producer of rare earth elements, is violating WTO rules by imposing export restrictions and artificially affecting prices of the raw material on the world market.