8/8/2011 12:10:00 AM
HEADLINES
Report: Russia Hits Chinese Fastener Exports with Tariffs
When the Committee of Customs Union of Russia, Belarus and Kazakhstan levied a 21.8% duty on metal fasteners manufactured in Ukraine, the announcement overlooked another tariff from the committee.
In addition to a duty on Ukrainian fasteners, the body also levied protective tariffs of US$282.4 per ton on certain bolts, nuts and washers originating in China, ChinaFastener.Info reports. Those tariffs will last until March 17, 2014.
The committee did not stop at fasteners, however. Other metal products — from stainless-steel cold-rolled sheets to bearings and petroleum pipes were also hit by duties.
“The protective measures taken by Customs Union (CU) against Ukrainian metals importers indicated Russia is keen to torpedo the Deep and Comprehensive Free Trade Agreement (DCFTA) with the European Union,” ChinaFastener.Info reports.
The customs union set a 21.8% duty on bolts and nuts imported from Ukraine. The tariff reportedly will be applied until May 2012.
Exempted from the duty were fasteners produced at the Druzhkivka Hardware Plant, which reportedly gave price undertaking in respect of mechanical fasteners to the Ministry of Economic Development.
In April 2007 Russian officials imposed a five-year antidumping duty of 21.8% on mechanical fasteners produced in Ukraine. ©2011 GlobalFastenerNews.com
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