EU Votes For Tariffs on Chinese Fasteners
EU Votes For Tariffs on Chinese Fasteners
Jason Sandefur
Despite a last-ditch effort by the Chinese government, the European Union anti-dumping committee voted to adopt import duties of up to 87% on screws and bolts from China, the Guardian reports.
China had offered to impose stricter pricing on its steel fasteners in an attempt to avert the tariffs, an offer EU officials rejected.
The vote must be approved by the 27-country bloc’s trade ministers before the duties are enacted.
The decision covers up to 200 Chinese companies collectively exporting fasteners worth more than $731 million to Europe. EU trade experts claim Chinese exporters get an unfair advantage because of suspected subsidies in China’s steel industry.
Chinese fastener makers are pressing their government to file a complaint with the World Trade Organization.
The Jiaxing Association, which represents fastener manufacturers in that region, claims the duties violate international trade rules.
Chinese producers are particularly unhappy that two Chinese units of two European companies — Agrati Group of Italy and Celo Group of Spain — will be exempt from the duties.
“Products likely to be affected by the antidumping measures, which are normally imposed for a five year period, range from socket screws, hex cap screws through self tapping and other small screws, wood and drywall screws, to flat and spring washers,” writes Fastener & Fixing Europe editor Phil Matten.
Nuts and threaded rod were not included in the probe. �2008 FastenerNews.com
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