The European Union announced on the 28th that it was conducting anti-circumvention investigations on Chinese companies that are suspected of bypassing Malaysia’s export of fasteners to the EU to escape anti-dumping measures. According to Reuters, if there is evidence that the tax evasion of Chinese exporters has harmed the interests of EU manufacturers, the EU may impose a maximum tax of 85% on the screws and bolts imported from Malaysia.
The European Union’s move is equivalent to increasing the protection of its 4 billion euro (US$ 5.51 billion) screw and bolt market.
It is understood that the EU launched anti-dumping investigations on nut, bolt and other fastener products imported from China in November 2007 and, in spite of opposition from the Chinese side, decided in early 2009 to impose a formal anti-dumping tax of up to 87% for a period of five years. At the end of July of that year, China filed a consultation request under the WTO dispute settlement mechanism on this EU anti-dumping measure. This is the first time since China’s accession to the WTO that it has resorted to the dispute resolution mechanism of the organization to seek a solution to the trade dispute with the European Union.
In response, a spokesperson for the Ministry of Commerce of the People's Republic of China has repeatedly stressed that the EU should not abuse trade remedy measures and encourage protectionism.
Well Block
Seating blocks are made from high-purity, high-density, high-strength materials with a matrix-adjusted system (MAS). These products exhibit the features of stable structure, good corrosion/erosion resistance, excellent thermal shock resistance and long service life.
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