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ECONOMY
Weekly Watch> WEEKLY WATCH NO. 30, 2011> ECONOMY
UPDATED: July 22, 2011 NO. 30 JULY 28, 2011
Fasteners' Anger
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The China Fastener Industry Association strongly demanded an end to discriminatory anti-dumping duties from the EU on fasteners, like screws, nuts and bolts, from China in an open letter sent to the Council of European Union on July 18.

Feng Jinyao, president of the association, said the country's fastener industry has suffered considerable losses in the past two years due to the EU's unfair treatment of Chinese fastener makers.

China is the world's biggest producer of fasteners, while the EU is its major market.

The strong voice from the industry came after the WTO's appellate body ruled recently that the EU is not complying with international commerce rules by imposing anti-dumping duties on the fasteners from China, and that the EU is illegally taxing Chinese steel fasteners.



 
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