🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

EU opens anti-dumping probe into Chinese wheels

Published 08/14/2009, 11:13 AM
Updated 08/14/2009, 11:18 AM

BRUSSELS, Aug 14 (Reuters) - The European Commission has opened an investigation into the alleged dumping of aluminium road wheels in the European market by Chinese manufacturers, the official journal of the EU said on Thursday.

The probe follows complaints from the Association of European Wheel Manufacturers (EUWA) in June this year. The body alleged that imports of certain aluminium road wheels used in motor vehicles were being dumped in the EU market.

"Having determined that there is sufficient evidence to justify the initiation of a proceeding, the Commission hereby initiates an investigation," the journal of the executive arm of the 27-nation European Union said. China's Ministry of Commerce denied the charges and said on Friday that the investigation was not in line with World Trade Organization (WTO) rules.

"The anti-dumping investigation adds uncertainty to the market and raises the procurement costs of European automobile manufacturers," China's Commerce Ministry spokesman Yao Jian said.

"It raises the cost of repairs for customers, affects the recovery of the European auto sector from the global financial crisis, and hurts the interests of both China and Europe" Yao said in a statement on the Ministry's website. (Reporting by Bate Felix in Brussels and Lucy Hornby in Beijing, editing by Anthony Barker)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.