EU extends tariffs on Chinese stainless steel screws to Philippines
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.
(seamless steel pipe )
