5/25/2011 3:07:00 PM
HEADLINES
EU Eyes Duties on Stainless Steel Fasteners from India
The European Union revived a threat to impose tariffs on stainless steel fasteners from India, claiming EU producers have been hurt by subsidies and dumping.
The EU will investigate whether Indian manufacturers of stainless steel fasteners receive government aid and export their products below cost to Europe, according to the European Commission.
The two probes result from March 31 complaints by the European Industrial Fasteners Institute on behalf of producers that account for more than 25% of EU output of stainless steel fasteners. No manufacturers were identified in the notice.
The EU closed similar inquiries in July 2010 after concluding duties on fasteners from India and Malaysia were unwarranted.
European producers insisted imports from India and Malaysia have been soaring since the EU imposed duties on products from other countries.
The EU imported Indian screws and bolts worth EUR 52 million (US$65.50 million) in 2009, up from EUR 2.5 million in 2005.
The commission has nine months from the start of an investigation to decide on provisional measures, which could
lead to levies that last up to six months.
Five-year duties could follow at some point after that.
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