After one year of legal protest, China's fastener products, which affect nearly 600 million euros in exports each year, may eventually encounter EU anti-dumping "sticks." Chinese respondent representatives told reporters on the 24th that the EU is likely to decide to impose a formal anti-dumping tax of up to 87% on the 26th.
Obviously unfair taxation Zhang Feng, deputy secretary-general of the Fastener Import & Export Enterprises Association of Jiaxing, Zhejiang, China, said in Brussels on the 24th that although Chinese companies have made great efforts, EU member states are likely to meet on the 26th meeting. Through the proposal of the European Commission, it decided to levy a high anti-dumping tax ranging from 63% to 87% on steel fasteners such as bolts and nuts exported to the European Union.
On November 9, 2007, the European Commission decided to initiate an anti-dumping investigation against steel fasteners originating in China. After a one-year trial, the European Commission made an anti-dumping final ruling against Chinese companies at the beginning of the month. Once ratified by the member states, China's fastener products will face a formal anti-dumping tax, usually for a period of five years. Zhang Feng said that in 2007, the total value of China’s fastener exports to the EU was about 575 million euros. Once anti-dumping measures are implemented, the amount involved is large.
However, in this case, the Chinese side believed that there was a big problem in the ruling of the European Commission. As early as the case was heard, the Chinese respondent party including the Jiaxing Fasteners Import & Export Enterprises Association pointed out that the European Commission’s own analysis showed that similar European manufacturers did not export Chinese fastener products to the EU. Increased damage, and industrial damage is one of the necessary conditions for the EU to take anti-dumping measures.
Zhang Feng said that in fact, the fastener products exported by the Chinese companies to the EU are mostly low-end products, and the high-end fastener products that are mainly owned by EU companies do not constitute competition at all. They are completely complementary and aim at different customer groups. However, the European Commission has ignored this fact and insisted that it regards China-European fastener products as similar products. This is undoubtedly to help its own companies to seize the market.
At the same time, on the one hand, the two EU enterprises promoted EU anti-dumping measures on Chinese fastener products. On the other hand, they also drilled the loopholes in the anti-dumping procedures of the EU and won exemptions for enterprises established in China. “The EU is specializing in its own companies in China. This is absolutely unfair to Chinese companies,†Zhang Feng said.
The EU is not worth the candle The Chinese lawyer Robert McLean hired in Brussels believes that the reason why the European Commission supports anti-dumping duties is more driven by political factors. This is not only untenable in the law, but also economically uneconomical.
"We don't understand why the European Commission is increasing their production costs extra when some European industries are asking for help, making their situation even more difficult," McLean said. "The last thing that should be done in the financial crisis is Increase the production cost of the company."
According to estimates from the Jiaxing Fasteners Import & Export Enterprises Association, EU consumers will pay at least 373 million euros each year if they are based on an intermediate tax rate of 70%. McLean warned that in the face of the financial crisis, this anti-dumping tax will only make the EU's related industries worse.
Although the new EU Trade Commissioner Catherine Ashton took office at the beginning, he warned that in the face of a severe economic situation, all countries should guard against the rise of trade protectionism, but analysts pointed out that a series of cases including anti-dumping of fasteners will test her. Can you agree with what you say.
In addition to steel fasteners, the EU has also launched anti-dumping investigations on various types of steel products in China. McLean said that what kind of position the EU takes in the fastener case is likely to herald the tendency in subsequent cases. China should be alert to the domino effect that this case may bring.
McLean expects that on the 26th, the EU member states will fall into the same discord as the 2006 anti-dumping case on leather shoes, splitting into two major camps: North and South. At present, within the EU, France and Italy strongly advocate anti-dumping measures, but some Nordic countries do not approve of it.
Chinese enterprises Jedi counterattack As the EU is China’s major export market for fasteners, which accounts for about one-third of total exports, the EU's anti-dumping measures cannot be overlooked for the lethality of the Chinese side.
The Jiaxing Fasteners Import & Export Enterprises Association said that if high anti-dumping duties were eventually imposed, China's fastener products would be kept out of the EU market and the employment of a large number of employees would be affected.
Zhang Feng revealed that in order to counter the EU’s trade protectionism, Chinese fastener manufacturers have asked the Chinese government to appeal the case to the WTO dispute settlement mechanism and decided to file a lawsuit against the two EU joint ventures in the country. They use the EU anti-dumping investigation to conduct unfair competition.
At the same time, China's fastener manufacturers also applied to the Ministry of Commerce of the People's Republic of China for an anti-dumping investigation of fasteners imported from the European Union.
Zhang Feng said that since the EU believes that the fasteners produced by China-European companies are similar products, the situation that foreign manufacturers such as the European Union have long-held high-end markets such as Chinese automotive fasteners should also become the basis for anti-dumping.
However, a trade official of the Chinese Mission to the European Union (EU) mission on the 24th stated in an interview with the reporter that the EU has not made a formal decision on the grounds that it has not made a clear statement.
Obviously unfair taxation Zhang Feng, deputy secretary-general of the Fastener Import & Export Enterprises Association of Jiaxing, Zhejiang, China, said in Brussels on the 24th that although Chinese companies have made great efforts, EU member states are likely to meet on the 26th meeting. Through the proposal of the European Commission, it decided to levy a high anti-dumping tax ranging from 63% to 87% on steel fasteners such as bolts and nuts exported to the European Union.
On November 9, 2007, the European Commission decided to initiate an anti-dumping investigation against steel fasteners originating in China. After a one-year trial, the European Commission made an anti-dumping final ruling against Chinese companies at the beginning of the month. Once ratified by the member states, China's fastener products will face a formal anti-dumping tax, usually for a period of five years. Zhang Feng said that in 2007, the total value of China’s fastener exports to the EU was about 575 million euros. Once anti-dumping measures are implemented, the amount involved is large.
However, in this case, the Chinese side believed that there was a big problem in the ruling of the European Commission. As early as the case was heard, the Chinese respondent party including the Jiaxing Fasteners Import & Export Enterprises Association pointed out that the European Commission’s own analysis showed that similar European manufacturers did not export Chinese fastener products to the EU. Increased damage, and industrial damage is one of the necessary conditions for the EU to take anti-dumping measures.
Zhang Feng said that in fact, the fastener products exported by the Chinese companies to the EU are mostly low-end products, and the high-end fastener products that are mainly owned by EU companies do not constitute competition at all. They are completely complementary and aim at different customer groups. However, the European Commission has ignored this fact and insisted that it regards China-European fastener products as similar products. This is undoubtedly to help its own companies to seize the market.
At the same time, on the one hand, the two EU enterprises promoted EU anti-dumping measures on Chinese fastener products. On the other hand, they also drilled the loopholes in the anti-dumping procedures of the EU and won exemptions for enterprises established in China. “The EU is specializing in its own companies in China. This is absolutely unfair to Chinese companies,†Zhang Feng said.
The EU is not worth the candle The Chinese lawyer Robert McLean hired in Brussels believes that the reason why the European Commission supports anti-dumping duties is more driven by political factors. This is not only untenable in the law, but also economically uneconomical.
"We don't understand why the European Commission is increasing their production costs extra when some European industries are asking for help, making their situation even more difficult," McLean said. "The last thing that should be done in the financial crisis is Increase the production cost of the company."
According to estimates from the Jiaxing Fasteners Import & Export Enterprises Association, EU consumers will pay at least 373 million euros each year if they are based on an intermediate tax rate of 70%. McLean warned that in the face of the financial crisis, this anti-dumping tax will only make the EU's related industries worse.
Although the new EU Trade Commissioner Catherine Ashton took office at the beginning, he warned that in the face of a severe economic situation, all countries should guard against the rise of trade protectionism, but analysts pointed out that a series of cases including anti-dumping of fasteners will test her. Can you agree with what you say.
In addition to steel fasteners, the EU has also launched anti-dumping investigations on various types of steel products in China. McLean said that what kind of position the EU takes in the fastener case is likely to herald the tendency in subsequent cases. China should be alert to the domino effect that this case may bring.
McLean expects that on the 26th, the EU member states will fall into the same discord as the 2006 anti-dumping case on leather shoes, splitting into two major camps: North and South. At present, within the EU, France and Italy strongly advocate anti-dumping measures, but some Nordic countries do not approve of it.
Chinese enterprises Jedi counterattack As the EU is China’s major export market for fasteners, which accounts for about one-third of total exports, the EU's anti-dumping measures cannot be overlooked for the lethality of the Chinese side.
The Jiaxing Fasteners Import & Export Enterprises Association said that if high anti-dumping duties were eventually imposed, China's fastener products would be kept out of the EU market and the employment of a large number of employees would be affected.
Zhang Feng revealed that in order to counter the EU’s trade protectionism, Chinese fastener manufacturers have asked the Chinese government to appeal the case to the WTO dispute settlement mechanism and decided to file a lawsuit against the two EU joint ventures in the country. They use the EU anti-dumping investigation to conduct unfair competition.
At the same time, China's fastener manufacturers also applied to the Ministry of Commerce of the People's Republic of China for an anti-dumping investigation of fasteners imported from the European Union.
Zhang Feng said that since the EU believes that the fasteners produced by China-European companies are similar products, the situation that foreign manufacturers such as the European Union have long-held high-end markets such as Chinese automotive fasteners should also become the basis for anti-dumping.
However, a trade official of the Chinese Mission to the European Union (EU) mission on the 24th stated in an interview with the reporter that the EU has not made a formal decision on the grounds that it has not made a clear statement.
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