China applies duties to EU steel fastener imports

China applies duties to EU steel fastener imports. Hours after it was announced the EU would extend tariffs applied to shoes imported from China for another 15 months, Beijing announced new anti-dumping tariffs on carbon-steel fasteners from the EU, state media reported. Starting December 28, steel fastener imports from the EU will pay tariffs between 16.8 -24.6% the Ministry of Commerce stated in an online announcement. The EU has already imposed five years of anti-dumping tariffs of up to 87% on steel fasteners imported from China earlier this year, at the same time the US launched an anti-dumping and anti-subsidy investigation into imports of Chinese carbon-steel fasteners. China exports 50% its steel fastener production annually so domestic industries have been particularly hard hit. The UK joined China in protesting the latest round of tariff-slapping. UK Business Secretary Peter Mandelson said: "I hope the EU will in the future see the importance of turning its back on protectionism."