1/27/2012 8:50:00 AM
HEADLINES
EU Renews Tariffs on Stainless Steel Screws From China & Taiwan
The European Union renewed antidumping tariffs on stainless-steel screws and bolts from China and Taiwan for another five years, Bloomberg News reports. The duty rates are up to 23.6% for Taiwan and as high as 27.4% for China.
The EU reimposed the import duties on stainless-steel fasteners, seeking to aid European producers that also include Italian companies Bontempi Vibo SpA and Bulnava Srl, Germany’s Reisser Schraubentechnik GmbH and France’s Ugivis SA.
“There is a likelihood of continuation of dumping on the union market in case the current anti-dumping measures are removed,” the 27-nation EU said in a decision today in Brussels.
The renewal will take effect after being published in the EU Official Journal on January 7.
The combined Chinese and Taiwanese share of the EU market for stainless-steel fasteners was 7.2% in the 12 months through September 2010 compared with 6.9% in 2007, according to the bloc.
The EU began its renewal investigation in November 2010, when the levies were originally due to expire.
At the time, the EU let lapse separate anti-dumping duties on stainless-steel fasteners from Indonesia, Thailand and Vietnam. Other countries that export these fasteners to Europe include India, the Philippines and Malaysia, whose combined EU market share was 36% in the 12 months through September 2010 — up from 22.6% in 2007.
The EU adopted 85% antidumping duties on certain fasteners from China in January 2009 after concluding that Chinese producers had flooded the market with fasteners at 30% to 50% below European prices.
China responded by placing five-year antidumping duties of up to 26% on steel fasteners imported from the European Union, affecting about EUR 140 million (US$240 million) worth of fasteners.
The WTO’s Appellate Body ruled in July 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 World Trade Organization criticized the way the EU assessed antidumping duties on fastener imports from China, affirming China’s complaint that the EU unfairly judged China as a non-market economy when it applied duties on fasteners in January 2009.
The Appellate Body, the WTO’s highest court, found that the EU discriminates against Chinese exporters compared to exporters from other countries. The decision could force the EU to set individual duties on companies instead of imposing a blanket duty for the whole country. ©2012 GlobalFastenerNews.com
The European Union renewed antidumping tariffs on stainless-steel screws and bolts from China and Taiwan for another five years, Bloomberg News reports. The duty rates are up to 23.6% for Taiwan and as high as 27.4% for China.
The EU reimposed the import duties on stainless-steel fasteners, seeking to aid European producers that also include Italian companies Bontempi Vibo SpA and Bulnava Srl, Germany’s Reisser Schraubentechnik GmbH and France’s Ugivis SA.
“There is a likelihood of continuation of dumping on the union market in case the current anti-dumping measures are removed,” the 27-nation EU said in a decision today in Brussels.
The renewal will take effect after being published in the EU Official Journal on January 7.
The combined Chinese and Taiwanese share of the EU market for stainless-steel fasteners was 7.2% in the 12 months through September 2010 compared with 6.9% in 2007, according to the bloc.
The EU began its renewal investigation in November 2010, when the levies were originally due to expire.
At the time, the EU let lapse separate anti-dumping duties on stainless-steel fasteners from Indonesia, Thailand and Vietnam. Other countries that export these fasteners to Europe include India, the Philippines and Malaysia, whose combined EU market share was 36% in the 12 months through September 2010 — up from 22.6% in 2007.
The EU adopted 85% antidumping duties on certain fasteners from China in January 2009 after concluding that Chinese producers had flooded the market with fasteners at 30% to 50% below European prices.
China responded by placing five-year antidumping duties of up to 26% on steel fasteners imported from the European Union, affecting about EUR 140 million (US$240 million) worth of fasteners.
The WTO’s Appellate Body ruled in July 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 World Trade Organization criticized the way the EU assessed antidumping duties on fastener imports from China, affirming China’s complaint that the EU unfairly judged China as a non-market economy when it applied duties on fasteners in January 2009.
The Appellate Body, the WTO’s highest court, found that the EU discriminates against Chinese exporters compared to exporters from other countries. The decision could force the EU to set individual duties on companies instead of imposing a blanket duty for the whole country. ©2012 GlobalFastenerNews.com
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