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On January 18 (Monday afternoon), 2016, WTO Appellate Body released the Compliance Report on Chinese Challenge to EU Fastener Duties, which declared that the Chinese side won this appealing, while EU’s anti-dumping measure against China’s certain iron or steel fasteners violated the WTO trade rules. Based on it, Chairman of Taiwan Industrial Fasteners Institute, Mr. Anchor T.H. Zhang indicated on Feb. 17 that if EU would abolish the anti-dumping duty against China’s certain iron or steel fasteners, it would cast a great impact on the export of Taiwan’s Fastener Industry.
According to the statistics, the export of Taiwan’s fasteners to EU market reached 1.2 Billion USD annually. Before the adoption of fastener anti-dumping measure against China, China’s certain iron or steel fasteners took around 26% of the EU market. In 2009, EU imposed anti-dumping duty against China’s certain iron or steel fasteners with a rate of 85%, which directly influenced China’s fastener export and reduced the market share near to 0%. Most of the market share was taken over by Taiwan, bringing quite a certain degree of increase for Taiwan’s Fastener Industry.
On Feb. 18, Taiwan Industrial Development Bureau declared to press that the Bureau had had relative countermeasures if EU would truly abolish the anti-dumping measure against China’s fasteners. The Bureau also indicated that the middle-and-low-end of fasteners would confront with a great challenge after the abolishment, while the high-end fasteners would remain strong.
-The17th
China(Guangzhou)Int’l Fastener & Equipment Exhibition
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