7/12/2011 11:18:00 AM
NEWS BRIEFS
EU Set to Apply Antidumping Tariffs on Malaysian Fastener Imports
By July 26 the European Commission will make public its decisions in the investigation of alleged circumvention of antidumping tariffs on Chinese steel fasteners via Malaysia, Fastener+Fixing Magazine reports.
The Commission initiated its circumvention investigation on October 28, 2010, based on indications that significant volumes of fasteners produced in China were being routed via Malaysia to avoid the 85% antidumping tariffs applied on imports of steel fasteners from China in 2009.
Nineteen Malaysian exporters are known to have applied for exemption from the tariffs on the basis their businesses were not engaged in circumvention.
The Commission is expected to grant exemptions to eight of these applicants when a regulation is published in the Official Journal of the European Union within the nine month investigation deadline.
Imports from all other Malaysian companies will be subject to the full antidumping tariff currently applied to steel fasteners from China, which is at 85%. That duty will be applied retrospectively on imports since the beginning of the investigation in October 2010, which means importers will have to pay back duties almost immediately.
There are growing indications, writes Fastener + Fixing Magazine editor Phil Matten, that the Commission is now turning the spotlight on other countries via which circumvention is alleged to be occurring. ©2011 GlobalFastenerNews.com and Fastener+Fixing Magazine
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