Argentina to levy 8% tax on biodiesel exports
BUENOS AIRES (Reuters) — Argentina will put an 8% tax on biodiesel exports starting next year, the government said in its official gazette on Wednesday, just days after the United States accused the South American country of subsidizing the fuel.
The US International Trade Commission (ITC) said this month that biodiesel imports from Argentina and Indonesia harm US producers. It announced that anti-dumping and anti-subsidy duties would remain for at least 5 yr.
According to the decree published in the Argentine gazette, “a harmonization is necessary between the export rights of biodiesel and that of its main raw material, soybean oil,” whose shipments are taxed 27%.
The National Biodiesel Board, a trade group representing US producers, petitioned Washington in March to impose the duties, claiming the imports were coming into the United States below the cost of production and undercutting local producers.
Reporting by Maximilian Heath, writing by Hugh Bronstein; Editing by Susan Thomas
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