CFIA Condemns EU Tariff Vote
CFIA Condemns EU Tariff Vote
Jason Sandefur
The Chinese Fastener Industry Association expressed “strong indignation” over the European Union committee vote to adopt import duties of up to 87% on screws and bolts from China.
“If European parties persist in its own ideas as ever, they will severely damage not only Chinese fastener industry, but also all European manufacturers, sales retailers and consumers,” the group warned.
CFIA accused the EU of “taking no responsibility” for its trade deficit with China.
Days before the vote, China had offered to impose stricter pricing on its steel fasteners in last-ditch effort to avert the tariffs, an offer EU officials rejected.
The vote (14 yes, 12 no and one abstention) 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, claiming the duties violate international trade rules.
“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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