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EU extends tariffs on Chinese stainless steel screws to Philippines

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Publish time: 11th March, 2013      Source: ChinaCCM
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The European Union extended to the Philippines a tariff on stainless-steel screws and blots from China due to the circumvention of import duty.

Stainless steel fasteners from China have been shipped to Europe via the Philippines to avoid import duty of 27.4%.

The import duty was circumvented by trans-shipment via the Philippines.

However two Philippine companies, Multi-Tek Fasteners Inc and Rosario Fasteners Corp were excusive from this extension. The EU trade protection policy posed 27.4% levy against Chinese imports, helping European fasten producer including Bulnava Srl of Italy, Germany's Reisser Schraubentechnik GmbH and France's Ugivis SA, more space facing below-cost competition from Asian country. Meanwhile, the EU also reimposed 5 year anti-dumping duties of 23.6% on stainless steel fasteners from Taiwan.