BRUSSELS (Reuters) – The European Union is imposing tariffs on imports of steel fasteners from China on the basis that they are being sold at artificially low prices, the EU official journal said on Thursday.
Tariffs of between 22.1% and 86.5% will apply from Friday on Chinese imports of the product that ranges from simple screws to high-end applications for the automotive, aviation and electrial sectors.
The EU fasteners industry is worth some 3.2 billion euros ($3.63 billion), with about 10% of the market served by Chinese imports, said the European Commission, which investigated a complaint from the European Industrial Fasteners Institute.
($1 = 0.8804 euros)
(Reporting by Philip Blenkinsop, editing by Marine Strauss)
