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China secures WTO victory on steel fasteners
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CNTV, July 18, 2011
The Ministry of Commerce has welcomed the World Trade Organization ruling that the European Union is illegally taxing Chinese steel fasteners.
The ruling says the EU isn't complying with international commerce rules by imposing its anti-dumping duties. The WTO ruled the EU's single duty requirements and practices are discriminatory.
The EU imposed anti-dumping duties of 26.5 to 85 percent on fasteners from China for five years in January 2009. China is the world's biggest producer of screws, nuts, bolts and washers, while the EU is its biggest market.
Li Chenggang, Dept. Director of Ministry of Commerce, said, "The WTO's rule will give justice to China's industry of steel fasteners and will be a boost for the industry to retake the market in Europe."
