LatinNews Daily - 26 November 2018

Argentina: On 13 November the US Department of Commerce announced it would be reviewing anti-dumping tariffs placed on biodiesel imported from Argentina ast year. The steep tariffs resulted in Argentina being unable to export to the US. Argentina’s foreign minister, Jorge Faurie, welcomed the possibility of “recovering a large market”. The US has decided to review the duties in the light of “changed circumstances”, which refer to the reduction of the differential between export duties that exist on the export rights of biodiesel and those on the supply of biodiesel itself, soya beans, and soybean oil. The tariffs had originally been imposed last year and ratified in April 2018. At that time, biodiesel was taxed at 0%, while soya was at 35% and soya oil at 32%. Currently, biodiesel is taxed at 15% while soya and soya oil pay 18%. Under new guidelines, primary materials, such as soya beans and oil, pay US$4 on each dollar exported, while other goods, like biodiesel, pay US$3 per dollar. According to the report, the review could take up to 270 days.

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