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The European Union is imposing tariffs on imports of metal fasteners from China on the premise that they’re being offered at artificially low costs, the EU official journal mentioned on Thursday.
Tariffs of between 22.1% and 86.5% will apply from Friday on Chinese language imports of the product that ranges from easy screws to high-end purposes for the automotive, aviation and electrial sectors.
The EU fasteners business is value some 3.2 billion euros ($3.63 billion), with about 10% of the market served by Chinese language imports, mentioned the European Fee, which investigated a criticism from the European Industrial Fasteners Institute.
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With costs of uncooked supplies hovering as economies recovered from the pandemic, the world’s second-largest steelmaker posted a internet revenue of $14.9 billion (13 billion euros) in 2021, bouncing again from a $733-million loss in 2020.
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