EU imposes definitive measures on Chinese steel fasteners
By Lénaïc Vaudin d’Imécourt | Wednesday 10 October 2012
The European Union will be imposing duties of up to 74.1% on imports of iron and steel fasteners originating from China, as of 11 October, after finding that industries in the country were guilty of dumping said products into the Union’s market.
Definitive measures were already applied by the Union on these products back in 2009, but following a complaint filed by China, the World Trade Organisation (WTO) found, in July 2011, that the EU had acted inconsistently with various procedural obligations in the anti-dumping agreement, and therefore had to review its measures. According to a 19 January agreement with China, the EU had until 12 October to implement the WTO’s recommendations.
While reassessing its definitive findings of the original 2009 investigation by taking into account the WTO rulings, the EU confirmed its conclusions and still found that Chinese industries were guilty of selling iron and steel fasteners into the Union below price. However, in the regulation, published in the
Official Journal of the EU on 10 October, one exporting producer (Bulten Fasteners Co) was granted individual treatment – meaning it would no longer suffer from the previous 85% duty imposed by the Union on “all other companies” since it cooperated with the investigation – and duties on six Chinese sampled companies dropped drastically, eg from 69.9% to 43.4% for Biao Wu Tensile Fasteners Co or from 63.1% to 38.3% for Changsu City Standard Parts Factory. In addition, the overall duty on “all other companies” dropped from 85% to 74.1%.
The regulation will enter into force on 11 October.