CHINA: China 'regrets' EU investigation on alloy wheel hubs
China's government has expressed regret over the EU's anti-dumping investigations on Chinese imported aluminium alloy hub products.
"The EU failed to resume its responsibility of conducting strict examination on the request, sending wrong signals to the industry," said Yao Jian, spokesman with the Ministry of Commerce, in a statement posted on its website.
The investigation launched by the EU Thursday, involves more than 60 Chinese companies, and will bring USD390m economic losses to the exporters, according to the statement.
The Association of European Wheel Manufacturers submitted an anti-dumping request to the E.U. at the end of June without disclosing the names of the European wheel-hub makers. It violated the transparency principles under the World Trade Organisation, the statement said.
Once an anti-dumping judgement is made, the EU may levy tariffs of up to 33 percent on Chinese aluminium alloy hubs for a term of five years.
China's aluminium alloy hub products have been widely used by leading auto makers such as Mercedez-Benz, BMW AG, Audi AG and Volkswagen.
The Chinese government maintains that anti-dumping measures will increase the cost to both the automakers and the consumers, and bring negative impact to the recovery of the European' auto industry.