EU Approves Wire Rod Import Duties on China

Jason Sandefur

A European Union trade panel approved antidumping duties of 25% on steel wire rod imports from China, Reuters reports. The duties will start in February and last for six months. A vote on five-year duties would come in mid-2009.

In recent weeks China’s Ministry of Commerce has initiated an antidumping investigation into carbon steel fasteners imported from the EU.

The decision by China to pursue the antidumping investigation follows a European Committee vote in early December to adopt import duties of up to 87% on screws and bolts from China.

China had offered to impose stricter pricing controls on its steel fasteners in an attempt to avert the tariffs, a proposal EU officials rejected. �2009 FastenerNews.com