01-27-2009, 09:25 AM
<b>EU Imposes Tariffs of Up to 85% on Chinese Screws and Bolts </b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Jan. 26 (Bloomberg) -- The European Union imposed tariffs as high as 85 percent on Chinese screws and bolts in a case that may prompt China to complain to the World Trade Organization.
<b>The five-year duties apply to EU imports of iron or steel fasteners worth about 575 million euros ($746 million) in 2007</b>. Fasteners, used for everything from automotive parts to furniture, are made in the EU by companies such as Italyâs Fontana Luigi SpA that demanded the levies to counter below- cost, or dumped, sales in Europe by Chinese competitors.
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<b>The five-year duties apply to EU imports of iron or steel fasteners worth about 575 million euros ($746 million) in 2007</b>. Fasteners, used for everything from automotive parts to furniture, are made in the EU by companies such as Italyâs Fontana Luigi SpA that demanded the levies to counter below- cost, or dumped, sales in Europe by Chinese competitors.
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