Chinese Fastener Industry: Barriers Are Still on the Way

The European Commission (EC) has recently announced to extend the antidumping measure against carbon steel fastener imports originating in China with the duty up to 74.1%. Insiders of the industry said that the unilateral act and protectionism of the EC to protect its own trade interests astonished the Chinese fastener industry.

Currently there are over 8,000 fastener enterprises in China and such a determination by the EC will cause great impact on at least one third of the fastener enterprises in China.

China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) and The Fastener Sub Association of China General Machine Components Industry Association (CMCA) made a mutual statement and said that the EC should follow the rules of WTO and rectify its incorrect methods during the investigation. Both of these Chinese associations hope to get rid of trade disputes and establish a win-win situation through close cooperation between Chinese and European fastener industries.