The European Commission has published in the Official Journal of the European Union the regulation No. 115/2012, imposing a provisional countervailing duty on imports of stainless steel fasteners and parts thereof originating in India.
The proceeding was initiated as a result of a complaint lodged on March 31, 2011 by the European Industrial Fasteners Institute (EIFI), representing a major proportion, in this case more than 25 percent, of total European Union (EU-27) production. The investigation covered the period between April 1, 2010 and March 31, 2011. The European Commission calculated countervailing duties of between 3.2 percent and 16.5 percent.
The stainless steel products covered by the provisional countervailing order currently fall within CN codes 7318 12 10, 7318 14 10, 7318 15 30, 7318 15 51, 7318 15 61 and 7318 15 70.