4/3/2012 3:13:00 PM
HEADLINES
China Responds to EU Tariff Review
A Chinese official welcomed the European Commission’s review of antidumping measures against Chinese fasteners, saying the European Union should rectify its anti-dumping investigations that violate World Trade Organization rules, China Daily reports.
A spokesman for the Ministry of Commerce said China expected the EU to implement the WTO’s recommendations and remove what it he called “the discriminatory measures and legislation inconsistent” with the WTO rules.
“China looks forward to the EU treating Chinese companies fairly and promoting a healthy bilateral trade relationship,” the spokesman said.
The Chinese official made no mention of 26% tariffs that China placed on steel fasteners from the EU in response to European duties.
Earlier this month the European Commission initiated a series of official reviews related to its tariffs on certain fasteners imported from China and Taiwan.
The reviews follow news in February that the EU had agreed on a timetable to implement WTO recommendations in the case, ending months of wrangling between the EU and China over a process to address the WTO determination. Based on the agreement, the reasonable period of time to address WTO concerns expires on October 12, 2012.
The EU may lift or lower its tariffs to comply with the WTO’s decision, according to the agreement.
The WTO’s Appellate Body ruled in July 2011 that EU duties on fasteners from China break international trade rules in many cases and should be revised to reflect non-market economy treatment.
The EU adopted 85% antidumping duties on certain fasteners from China in February 2009. ©2012 GlobalFastenerNews.com
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