On Monday China filled a formal complaint with the WTO over a trade dispute with the EU involving nuts and bolts. Yes, nuts and bolts. This dispute between China and the EU is just the most recent in a series of tit-for-tat tariffs.

Member states of the EU claim that Chinese manufacturers have been “dumping” (selling products at below cost) nuts and bolts in the EU, making it difficult for domestic producers to compete. The Chinese call the measures “unfounded” and claim to be victims of a protectionist regime. Meanwhile China has launched its own anti-dumping investigation into European carbon steel fasteners.

The true victims are consumers and workers on both sides. Manufacturers of everything from cars to lawn tools will be forced to buy more expensive parts This cost, at least in part, will inevitably be transferred to the consumer, raising the total cost of final goods and services. For the tens of thousands who directly depend on the income from these fasteners, a sharp decline in overseas trade will leave many jobless.

This round of disputes comes just months before a pivotal trade meeting in Copenhagen. The nuts and bolts of this disagreement could make or break the future of the EU-China trade relationship. A relationship that is critical to millions of people.