EU hits China with anti-dumping duties on steel wire rods

01/08/2009 12:00 - 626 Views

BRUSSELS — The European Union decided Monday to slap anti-dumping duties on imports of Chinese steel wire rods for five years, a statement said.

EU foreign ministers, meeting in Brussels, rubber stamped without discussion the move "imposing a definitive anti-dumping duty" on China, with duties of up to 24 percent.

The duties come after EU producers complained that Chinese dumping -- selling goods abroad at artifically low prices -- had hurt their businesses. The EU move risks fuelling tensions with China after other recent anti-dumping decisions against emerging Asian economic giant.

Temporary duties were imposed in February.

Wire rod is used in the manufacture of springs and grills.

In December, EU countries narrowly voted in favour of duties on Chinese-made screws and bolts in one of the biggest anti-dumping cases against Beijing.

In retaliation, China launched an anti-dumping probe into screws and bolts made in the European Union.

(AFP) – July 29, 2009

Source: afp.com