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China slaps tariff on imported screws
By Wang Yanlin |
December 23, 2009, Wednesday
|
Online Edition
Online Edition
CHINA will impose a temporary anti-dumping tariff on imports of carbon steel fasteners from the European Union, the Ministry of Commerce said today.
It coincided with a decision by the EU ministers on Tuesday to extend import duties for another 15 months on shoes from China and Vietnam.
The global trade disputes have shown a chain effect by spreading to more markets and involving more industries, observers said.
China's preliminary ruling requires importers of carbon steel fasteners such as screws and bolts to pay deposits ranging from 16.8 to 24.6 percent to Customs starting from next Monday, according to a statement by the Ministry of Commerce.
It said the products imported from the EU countries were found dumped in China and caused essential damage to relevant Chinese industries.
The carbon steel fasteners are widely used in cars, electronic products, machinery and construction.
China buys about 10 percent of its carbon steel fasteners from foreign markets, but figures were not available for the value of imports from the EU.
Just a day earlier, the EU announced it would import duties up to 16.5 percent on imports of Chinese leather shoes and 10 percent on those made in Vietnam.
It coincided with a decision by the EU ministers on Tuesday to extend import duties for another 15 months on shoes from China and Vietnam.
The global trade disputes have shown a chain effect by spreading to more markets and involving more industries, observers said.
China's preliminary ruling requires importers of carbon steel fasteners such as screws and bolts to pay deposits ranging from 16.8 to 24.6 percent to Customs starting from next Monday, according to a statement by the Ministry of Commerce.
It said the products imported from the EU countries were found dumped in China and caused essential damage to relevant Chinese industries.
The carbon steel fasteners are widely used in cars, electronic products, machinery and construction.
China buys about 10 percent of its carbon steel fasteners from foreign markets, but figures were not available for the value of imports from the EU.
Just a day earlier, the EU announced it would import duties up to 16.5 percent on imports of Chinese leather shoes and 10 percent on those made in Vietnam.
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