EU Retains Tariffs on US Biodiesel

EU Retains Tariffs on US Biodiesel

The European Union (EU) extended its tariffs on the US biodiesel for extra five years after thinking  that halting tariffs could result in a surge of imports at artificially low prices, Reuters reported.

The tariffs date back to 2009 and they are planned to remain until 2026.

The tariff extension case was reviewed by the European Commission, which announced that the US biodiesel producers would hike to full capacity, adding that they could shift sales from less profitable markets, in third countries, to the EU.

The producers were benefiting from several subsidies, including loans, grants, guarantees, and tax credit, the commission said.

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Sarah Samir 3524 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


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