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The request conciliation between European fasteners trade frictions
Reuters reported on May 10, the European Commission has been the World Trade Organization (WTO) dispute settlement body of the request, the decision on the EU imports of Chinese steel connectors (steelfastener) 24.6% imposed provisional anti-dumping duty to mediate . "Daily Economic News" was informed that the European Union in January 2009 on imports from China since the bolts and screws to levy the maximum amounted to 85% punitive tariffs, the Chinese measures taken in response.
Precision Screw Co., Ltd. Shanghai General Manager of Shang Yi Shang Jinkui 11, told the "Daily Economic News" interview that the EU exports to China fastener manufacturers hit "extremely heavy", and China is response to the EU of tariffs, only a symbolic measure. Shang Jinkui appeal, unless the EU to reduce or remove the fasteners Chinese exports to the EU tariff, otherwise it should not be compromised.
According to Shang Jinkui introduced a number of large-scale factories in Mainland China fastener business in order to keep exports to reduce trade friction losses caused by business, have in Malaysia, Singapore, South Korea, set up factories.
Reuters reported that as the world is largest producer of fasteners, the EU is China is screws, bolts and nuts of the largest customer, the European Union on China is steel connectors punitive taxation, the Chinese fastener industry will be from year to year loss of 400 million euros of foreign exchange earnings, while the loss of 800,000 jobs.
The author from the world is largest roller manufacturer - BOMAG (China) Engineering Machinery Company, China is steel fittings from the European Union tariffs, due to EU exporters need to provide a certificate of origin, delivery delays than before a month.
BOMAG (China) Engineering Machinery Company Global Sourcing Engineer Zhu Weigang told the author that, in response to the EU imports from delay in delivery of bolts, and the tariffs increase the cost of procurement brings, they are stepping up domestic production of this part of the process of parts, some zero parts to the end of this month is expected to realize low-volume localization.
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