White House Reviewing Duties on Argentine Biodiesel
If fees are repealed, it could mean a dent in demand for U.S. supplies of oilseed
According to a report at Farm Futures, the U.S. Commerce Department is starting a review of the anti-dumping and countervailing duties it placed on shipments of Argentine biodiesel earlier this year. The original decision was applauded by the American industry, a major consumer of soybeans. If the fees are repealed, that could mean a dent in demand for U.S. supplies of the oilseed.
The Trump administration’s decision comes amid “changed circumstances” for the Argentine industry, a Nov. 7 Commerce Department filing said. The South American nation asked for the review after it added a 15% domestic tax for its exports of biodiesel and reduced taxes on soybean products.
Argentina, the world’s top shipper of soy meal and oil, said the Trump tariffs had essentially caused its exports of biodiesel to the U.S. to cease.
The Commerce Department review will be completed within 270 days, according to the filing.