Date: 2013-07-31

EU Plans 87% Duties on Chinese Steel Fasteners

Bloomberg reported that the European Union plans to impose tariffs as high as 87% on Chinese screws and bolts in a case that may prompt China to complain to the World Trade Organization.

The report cited the Jiaxing Association of Fastener Import and Export Companies including Gem-Year Industrial Co Fasteners as saying that the 5 year duties would apply to EU imports of iron or steel fasteners worth EUR 575 million euros last year. As per report, the European Commission will recommend that EU governments impose the levies no later than February 9th 2009.

Mr Robert MacLean of Crowell Moring LLP who represents the Jiaxing Association said that the anti dumping duties would threaten up to 800,000 jobs in China and are unjustified because EU producers haven

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