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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World WTO raps EU for measures on Chinese metal fasteners AFP - Saturday, December 4 Send IM Story Print WTO raps EU for measures on Chinese metal fasteners Slideshow: Full Photo Coverage: Business & Economy GENEVA (AFP) - – The World Trade Organization on Friday ruled that anti-dumping measures imposed by the European Union on imports of Chinese metal fasteners, such as screws, nuts and bolts, were illegal. "We recommend that the dispute settlement body request the European Union to bring its measure into conformity with its obligations," it said. China brought the case to the WTO in July 2009 after the European Union imposed hefty tariffs on imports of some Chinese steel and iron fasteners, ranging from 26.5 percent to as high as 85 percent. The WTO's decision marked China's first win against the EU. In a statement on the Chinese Commerce Ministry's website, Beijing welcomed the decision, pointing out that the WTO found that the EU's measures were "discriminatory and violated relevant WTO regulations." It called on the EU to respect the WTO's decision and to end "measures that violated WTO rules and that are discriminatory, to give fair treatment to Chinese exports and to protect regular Sino-European trade." Parties to the case have 60 days to file appeals. China is the world's biggest producer of screws, nuts, bolts and washers, while the European Union is its biggest market. The EU imported 575 million euros (762 million dollars) worth of Chinese fasteners in 2007, according to the Jiaxing Association of Chinese Fastener Producers. EU-China trade has exploded in recent years, making the EU the top destination for Chinese exports while China is Europe's biggest trade partner after the United States. Recommend Send IM Story Print Related Articles Australia's Myer to sell online from China: reports AFP - 45 minutes ago Bangladesh's Grameen Bank denies wrongdoing AFP - 51 minutes ago India's IIFCL to issue $267.7 mln tax-free bonds Reuters - 51 minutes ago Thai tech pioneer converts waste into wealth AFP - 1 hour 39 minutes ago India claims further $1.2 bln for Bhopal victims Reuters - 1 hour 49 minutes ago News Search Top Stories Climate: Kyoto row rocks UN talks Obama on surprise Afghanistan visit, says US winning war US unemployment surges to 9.8 percent Euro is 'credible', more rescue funds needed: Trichet WikiLeaks arrest looms as site fights to stay online More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended NASA finds new form of life... on Earth Suspect in Hollywood PR shooting commits suicide Finger length predicts prostate cancer risk: study US unemployment surges to 9.8 percent Euro is 'credible', more rescue funds needed: Trichet More Most Viewed » Pilgrims stone 'devil' as Muslims celebrate Eid NASA finds new form of life... on Earth World leaders scramble for funds to save the tiger US, S.Korea plan war games after N.Korean attack Obama gets 12 stitches after 'elbow in the lip' More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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