WTO calls for end to EU duties on Chinese screws

The European Union (EU) has been told to
stop levying import duties on Chinese screws, nuts and bolts.

The ruling by the World Trade
Organization (WTO) marks the first time the trade body has ruled against the EU
in favour of China.

The panel of WTO experts said the EU’s
import duties broke trade rules and said they must be revised.

According to the organisation’s rules,
both sides now have 60 days to appeal against the ruling.

The EU imposes duties on imports from
countries such as China, Vietnam or Cuba, which it considers not to be market
economies.

WTO rules allow for extra duties where
imports are sold at less than they would cost in the country of origin, a
process known as “dumping”.

The Chinese claim stated that the EU had
wrongly calculated the threshold, a complaint the WTO upheld.

“The… rulings make it clear that
the EU’s anti-dumping legislation and practice are discriminatory and
inconsistent with WTO rules,” China said in a statement.

However, the WTO did not uphold all the
Chinese complaints.

China and the EU have been involved in
an escalating trade dispute with China imposing its own tariffs on European
products.

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