(Bloomberg) — The European Union renewed for another five years tariffs on screws and bolts from China, extending protection that the Chinese government challenged at the World Trade Organization.
The EU reimposed the duties as high as 74.1 percent on imports from China of iron or steel fasteners, used for everything from automotive parts to furniture. The levies target Chinese exporters such as Gem-Year Industrial Co. for allegedly having sold the fasteners in Europe below cost, a practice known as dumping.
“There is a likelihood that, if measures were to lapse, dumping would recur,” the European Commission, the 28-nation EU’s trade authority in Brussels, said on Friday in the Official Journal. The five-year renewal will take effect on (…)
via China Faces Renewal of EU Fastener Duties It Challenged – Bloomberg Business.