China appeals WTO ruling on EU fastener duties
01/04/2011 28
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China launched an appeal at the World Trade Organization in a case against the European Union on Wednesday, saying a WTO ruling had not gone far enough in its favour, people familiar with the lawsuit said.
The move comes less than a week after the EU appealed the same ruling, in which the WTO found the European Union broke international law in the way it set import duties on Chinese-made screws and bolts used mainly in cars, white goods and machinery.
"China's appeal says that contrary to the EU's WTO obligations, the EU excluded a number of European producers from the injury analysis," said one of the sources. Other sources have said one reason China is appealing is because it feels that the original ruling did not go far enough in its favour.
Hundreds of Chinese firms have been facing duties of up to 87 percent, imposed by the EU in 2009 on imports of Chinese-made fasteners, to counteract what the EU said were illegally low prices.
Source: International Business Times UK
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