Global News Of Note: EU Will Impose Penalties On Steel Fasteners From China
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- On February 17, the European Commission announced it will impose anti-dumping duties of 22.1 percent to 86.5 percent on certain iron or steel fasteners imported from China. The commission noted the announcement follows an investigation that “showed the presence of significant dumping on the market, with Chinese imports … injuring the European fasteners industry.” The EU fasteners industry, which, according to the commission, is made up mostly of small businesses, is worth €3.2 billion and employs approximately 20,000 Europeans. The commission said the penalties “will re-establish a level playing field” and allow “EU producers of fasteners to compete in the EU market on an equal footing with the imported fasteners.” Read more here.