EU Hits China with Anti-dumping Duties on Steel Wire Rods

The European Union decided Monday to slap anti-dumping duties on imports of Chinese steel wire rods for five years, a statement said. EU foreign ministers, meeting in Brussels, rubber stamped without discussion the move "imposing a definitive anti-dumping duty" on China, with duties of up to 24%. The duties come after EU producers complained that Chinese dumping -- selling goods abroad at artificially low prices -- had hurt their businesses. The EU move risks fueling tensions with China after other recent anti-dumping decisions against emerging Asian economic giant. Temporary duties were imposed in February. Wire rod is used in the manufacture of springs and grills. In December, EU countries narrowly voted in favor of duties on Chinese-made screws and bolts in one of the biggest anti-dumping cases against Beijing. In retaliation, China launched an anti-dumping probe into screws and bolts made in the European Union. Copyright Agence France-Presse, 2009