EU Puts Antidumping Duties on Chinese Screws, Bolts

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Feb 02,2009

The European Union imposed on Saturday import duties of up to 85 percent on screws and bolts from China, a move likely to trigger retaliatory action by Beijing at the World Trade Organisation. The tariffs affect up to 200 Chinese companies selling components widely used for cars, white goods and machinery in the EU and are worth some 575 million euros ($739 million) a year. Chinese manufacturers, anticipating the duties, have asked Beijing to take the EU to the WTO, the global trade watchdog, over the matter. They say Brussels is protecting European companies amid the worst global economic slowdown in 80 years. But the European Commission, which oversees trade policy in the 27-nation bloc, rejected the allegation. "We reject strongly the implication from various sources quoted in the press that any anti-dumping measures in this case would be protectionist and not based on fact," the Commission said in a statement to Reuters. "The Commission rejects any notion that anti-dumping measures are used to protect European companies from fair competition." "Anti-dumping is about fighting unfair trade, and the Commission will continue to address unfair trade where we find it, based on the facts."

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