1/25/2016 12:39:00 AM
HEADLINES
WTO Faults EU’s Fastener Tariffs Against China
The World Trade Organization issued its fourth and final verdict in a case pitting the European Union against China over import duties on nuts and bolts, Agence France-Presse reports.
The ruling, which rejected the EU’s final appeal, opens the way for China to request compensation.
The AD measures, originally applied in February 2009, applied antidumping duties of up to 85% on fasteners falling within ten CN codes and including bolts, screws and washers from China.
In 2010, a WTO panel ruled that Brussels acted inconsistently in its antidumping calculations, and the decision was upheld on appeal in 2011.
Ultimately, the WTO faulted the EU for imposing antidumping duties on all Chinese firms instead of imposing differentiated duties depending on each company’s practice, according to the France-Presse.
Following the WTO’s final decision, the Chinese ministry of commerce claimed the measures had “negative effect on exports from China (of) around $1 billion” and had resulted in some 100,000 people losing their jobs with thousands of fastener producers across the country.
The WTO has repeatedly found that the EU tariffs violate global trade rules.
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