The China Industrial Fastener Association plans to give evidence to defend themselves against the fastener dumping allegations from the European Union and may launch a similar anti-dumping appeal to EU if necessary, said Feng Jinyao, president of the Association, China Business Daily reported.
Feng Jinyao told reporters on the sideline of an industry meeting in the weekend that domestic fastener companies are collecting evidence to launch a legal fight against the claim and the Ministry of Commerce may present a similar lawsuit against the EU to the World Trade Organization, suing them for dumping high-end European fasteners and preventing the Chinese industry from moving up the value chain.
The European Union voted on December 3 to put import tariffs of up to 87 percent on screws and bolts from China. The duties were approved by 14 EU countries and were rejected by 12 others with one abstention and will run for five years starting next year once the decision is officially published.
A report of China Radio International cited Feng’s words as saying it’s unreasonable for the commission to propose such duties because European manufacturers haven’t suffered any damages as a result of increased imports from China.
“In recent years, we have exported more fasteners to Europe, but the market share is still low. It’s no more than 10 percent. What’s more, most sorts of our fasteners are not produced in Europe anymore, so our exports complement the European market, rather than damage its interests.”
Chinese exporters had argued that their products sold to Europe are standard fasteners mainly for general industrial use and DIY markets and are complementary to the European ones which are of high strength and are mainly for automotives, earth-moving machinery and airplanes.
The European industry contends that Chinese makers benefit from suspected subsidies in steel wire, their raw material, which is currently the focus of a separate investigation, a Reuters report said earlier.
Two Chinese subsidiaries of European producers were exempted, much to the Chinese industry’s annoyance, on the grounds they primarily use a different kind of steel.
Chinese companies were also denied market economy status, which means their prices were evaluated against cost structures of Indian companies.
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