Sources indicate that the European Commission is to apply anti-dumping duties on certain fasteners imported from China, following a lengthy trade investigation.
Three exporting companies will be subject to anti-dumping duties ranging from 23.9% to 51.5%. A lengthy list of other exporting companies will be subject to anti-dumping duties between 23.9% to 51.5%. All other companies will be subject to 89.9% anti-dumping duties.
As previously hinted, it appears there will be no retrospective duties. The Final Disclosure Document, which Torque Magazine has had sight of, said: "One of the legal conditions under Article 10(4) of the basic Regulation is not met and therefore the duties should not be levied retroactively on the registered imports."
The report has been officially handed to interested parties, who will have the opportunity to submit comments in the next few weeks.
There will be more on this story to follow.