China has expressed strong dissatisfaction against the European Union's decision to extend tariffs on imported Chinese-made shoes, and Beijing retaliated by imposing penalties on metal fasteners such as bolts and nails from the EU on Wednesday.
In two seperate statements published on the Chinese Commerce Ministry website, China said it would appeal the EU tariffs extension for another 15 months through the WTO dispute settlement mechanism. Meanwhile, China made a preliminary ruling to require importers of carbon steel fasteners from the 27 EU nations to pay a deposit from Monday.
The EU has voted to extend tariffs on shoes from China and Vietnam for another 15 months on December 22 this year. The tariff was first introduced in 2006.
"The Chinese government ... will appeal to the WTO dispute settlement mechanism and take measures accordingly to seriously protect the legitimate interests of the Chinese industry," said the Commerce Ministry spokeperson Yao Jian on Tuesday.
Later On Wednesday, the Ministry announced that importers of EU-made carbon steel fasteners would have to pay a deposit - up to 24.6% - based on the difference between the normal value of the fasteners and the cut price.
Links and Sources:
European Union's decision on tarrifs extension: Statement
Chinese Ministry of Commerce Statements: 1. Appeal to WTO 2.Imposing Penalties on EU-made fasterners (Chinese)
