Arab Today, arab today wto faults eu in nuts and bolts dispute with china
Last Updated : GMT 08:19:27
Arab Today, arab today
Arab Today, arab today

WTO faults EU in nuts and bolts dispute with China

Arab Today, arab today

Arab Today, arab today WTO faults EU in nuts and bolts dispute with China

EU has levied tariffs ranging from 26.5% to 85%
Geneva - AFP

The World Trade Organization on Monday ruled against the European Union in a dispute that has been raging since 2009 between the bloc and China over import duties on nuts and bolts.

The world trade body's fourth and final verdict against the EU in the dispute opens the way for China to request compensation.

China had first brought the case to the WTO in July 2009 after the EU imposed hefty tariffs on imports of some Chinese steel and iron fasteners.

Arguing that dumping was taking place, the EU had in January that year levied tariffs ranging from 26.5 percent to 85 percent on Chinese screws, nuts, bolts and washers.

The Chinese ministry of commerce said in a statement Monday that the measures had since then had "negative effect on exports from China (of) around $1.0 billion" (918 million euros) and had resulted in some 100,000 people losing their jobs with thousands of fastener producers across the country.

"It has resulted in huge economic losses to the Chinese industry," the statement said.

The WTO has repeatedly found that the EU measures violate global trade rules.

In 2010, a WTO panel ruled that Brussels acted inconsistently in its anti-dumping calculations, and the decision was upheld on appeal in 2011.

But the case did not end there. China did not agree with the EU's claim in October 2012 that it had adjusted its measures to comply with the WTO ruling.

That panel ruled last August in China's favour, finding that the EU had failed to make amends, and on Monday a WTO appeals body rejected an EU appeal of that ruling.

The WTO among other things faulted Brussels for imposing anti-dumping duties on all Chinese firms, instead of imposing differentiated duties depending on each company's practice.

The Chinese commerce ministry statement hailed the ruling, insisting it showed that "discriminative practice and anti-dumping measures taken by certain trade partners against the Chinese products and exporters lack multilateral legal basis under the WTO trade laws."

It urged the EU quickly comply with the latest WTO ruling "and withdraw the illegal anti-dumping measures on fastener from China as soon as possible."

The statement warned that China otherwise "reserves its rights to take further steps under the WTO dispute settlement mechanism," likely referring to its right to request compensation.

It said it hoped the fastener dispute could now be "settled as soon as possible, so as to restore normal bilateral trade for the products concerned."

Beijing and Brussels have locked horns over a string of trade issues at the WTO, which seeks to set a level playing field for commerce between its members

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wto faults eu in nuts and bolts dispute with china Arab Today, arab today wto faults eu in nuts and bolts dispute with china

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Rebel supporters flood Yemen streets

GMT 06:39 2017 Monday ,27 March

Rebel supporters flood Yemen streets
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 06:04 2017 Tuesday ,28 March

Saudi Arabia ranks 3rd globally for smartphone use

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday