EU CUTS IMPORT DUTY ON ARGENTINE BIOFUELThursday, October 5, 2017
The EU has cut its import duties on Argentine biodiesel end of September in compliance with a World Trade Organization (WTO) ruling in Argentina’s favour last autumn. The tariffs, previously set at between 22% and 25.7%, has been lowered to between 4.5% and 8.1%.
Argentina filed a complaint with the WTO after the EU in November 2013 set anti-dumping taxes against the country, claiming that its export tax on soyabeans allowed domestic Argentine biodiesel producers to dump fuel in Europe at unfairly low prices. The WTO ruled in Argentina’s favour in October 2016, upholding its claims that the EU measures were “protectionist” and had caused Argentina annual losses of US$1.6bn in sales.