EU Mulls Duties On China Screws
EU Mulls Duties On China Screws
Jason Sandefur
The European Commission wants to impose antidumping duties on Chinese-made screws and steel fasteners of between 63% and 87% over the next five years, Reuters reports.
The current EC proposal reportedly would exclude Chinese subsidiaries of European companies manufacturing products in China.
In March 2008 the British Association of Fastener Distributors warned that tariffs would force fastener price hikes in the UK. “We are not talking 4 or 5% here. We are facing the potential of increases probably upwards of 40%,” BAFD vice chairman Geoff Hopwood told Fastener & Fixing Europe magazine.
In November 2007 the European Commission launched the investigation against a wide range of carbon steel fasteners imported from China. The investigation followed a complaint lodged by European fastener manufacturers, led by producers in Italy.
The complaint alleges dumping margins between 90% and 195% on commonly used fasteners, such as woodscrews, hexagonal head bolts, socket screws, self tapping screws and washers.
“Tariffs at anything like these levels would cause chaos in world fastener markets,” Hopwood said at the time. “We do not believe the capacity exists in Europe to respond to any switch in demand and, anyway, some of the European producers that lodged the complaint, are already understood to be planning price increases in anticipation of high tariffs.” �2008 FastenerNews.com
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