ARGENTINA: U.S. Confirms Tariffs Of Up To 72.3% On Country's Biodiesel

(RTTNews) - The United States International Trade Commission (USITC) ratified the Department of Commerce's decision to set tariffs of up to 72.28% to Argentinean biodiesel imports.

The USITC decided that the U.S. biodiesel industry "suffers significant damages by imports of biodiesel from Argentina and Indonesia."

As a result, tariffs on Argentinean biodiesel were set from 71.45% to 72.28%, as required by the U.S. Department of Commerce last month.

In 2016, the United States imported 16.879 million barrels of biodiesel, mainly from Argentina, which sold 10.679 million barrels of the fuel to the country (63% of the total volume). A year before, U.S. biodiesel imports were at 8.399 million barrels, of which 4,657 million barrels came from Argentina.

Indonesia, the second biggest supplier of biodiesel to the U.S., also will face countervailing duties.