EU imposes anti-dumping tariffs on Chinese steel fasteners

18/02/2022 11:10 - 137 Views

The European Union is imposing tariffs on imports of steel fasteners from China on the basis that they are being sold at artificially low prices, the EU official journal said on Thursday.

Tariffs of between 22.1per cent and 86.5per cent will apply from Friday on Chinese imports of the product that ranges from simple screws to high-end applications for the automotive, aviation and electrial sectors.

The EU fasteners industry is worth some 3.2 billion euros ($3.63 billion), with about 10per cent of the market served by Chinese imports, said the European Commission, which investigated a complaint from the European Industrial Fasteners Institute.

Source: CNA