European Council imposes tariffs on Chinese fasteners

The European Council has imposed tariffs of, on average, 80% on a large range of fasteners originating from the People’s Republic of China that enter the European Union. The fasteners that are affected include wood screws, spaced-thread screws, self-tapping screws, slot and cross-recessed screws, hexagon socket head screws, hexagon screws and bolts, screws and bolts with heads, spring and lock washers, and other washers.

The tariffs have been imposed as a result of complaints from European producers of fasteners, to bridge the gap between the costs of Chinese wire rod (the steel that fasteners are made of) and the costs of European wire rod. This effectively ends the Chinese price advantage over its European competitors for a large selection of fasteners.

CEO Oswald van den Belt: “The price of steel is declining, yet the prices of fasteners have risen because of the imposed anti-dumping tariffs. This is difficult to explain.”

In response to the European measures, FABORY now attracts more of its fasteners from suppliers in other countries. Of course, our priority in that respect remains the quality of the products. Being Masters in Fasteners, we refuse to compromise on that.

The specifications of the decision of the European Council can be found here (http://eur-lex.europa.eu/en/index.htm)