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Montevideo, May 25th 2018 - 07:11 UTC

US adds more import duties on biodiesel from Argentina

Friday, February 23rd 2018 - 09:05 UTC
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The latest duties make it virtually certain that biodiesel from Argentina will not be sold in the U.S. market, with combined rates of up to 159% on the fuel The latest duties make it virtually certain that biodiesel from Argentina will not be sold in the U.S. market, with combined rates of up to 159% on the fuel
“While the United States values its relationship with Argentina and Indonesia, even our closest friends must play by the rules” said Commerce Secretary Wilbur Ross “While the United States values its relationship with Argentina and Indonesia, even our closest friends must play by the rules” said Commerce Secretary Wilbur Ross

The U.S. Commerce Department piled on more import duties on biodiesel from Argentina and Indonesia, adding anti-dumping duties of 60.44% to 276.65% to already steep anti-subsidy duties on the fuels.

The final determination is subject to a second ruling by the U.S. International Trade Commission on April 6 on whether U.S. biodiesel producers were injured by dumped imports from the two countries. But the independent panel has already found in the subsidy cases that the imports caused such injuries.

The latest duties make it virtually certain that biodiesel from Argentina and Indonesia will not be sold in the U.S. market, with combined rates of up to 159% on the Argentine fuel and up to 341% on Indonesian variety.

“Today's decision allows U.S. producers of biodiesel to receive relief from the market-distorting effects of foreign producers dumping into the domestic market,” Commerce Secretary Wilbur Ross said in a statement. “While the United States values its relationship with Argentina and Indonesia, even our closest friends must play by the rules.”

The latest duties come just two weeks after a budget deal in the U.S. Congress reinstated a US$1 per gallon biodiesel tax credit, which is expected to improve profitability for domestic producers.

The trade case was filed by the National Biodiesel Board and 15 member companies that alleged a flood of subsidized imports sold below fair market value was preventing U.S. producers from earning an adequate return.

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  • Enrique Massot

    “The latest duties make it virtually certain that biodiesel from Argentina and Indonesia will not be sold in the U.S. market.”

    Just like Macri was hoping when paying the vultures what they were asking and then some: “Argentina is returning to the world,” and “We will have an investment rain.”

    The return to the world, so far, has only produced a wave of imports that is killing many small and medium-sized enterprises while failing to make a dent on inflation as expected.

    Regarding foreign investment, the dollars that are coming to Argentina are mostly buying Lebacs (government-issued, high-yield bonds) and they're also ready to fly away at the minor sign of changes in market conditions.

    More achievements of the Joyful Revolution.

    Feb 24th, 2018 - 11:00 pm 0
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