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Financial News: ARGENTINA: Country Rejects U.S. 61% Import Duty On

ARGENTINA: Country Rejects U.S. 61% Import Duty On Biodiesel

08/27/2017 - 18:03:00 (RTTNews)

(RTTNews) - The Argentinean government expressed its rejection to the 57-61% tariffs imposed by the United States Department of Commerce on its biodiesel exports. The preliminary sanction results of a research conducted by private U.S. biodiesel producers.

In a statement, Argentina's Ministry of Foreign Affairs reported that, along with the national private sector, it cooperates with the investigation that is being carried out, and clarified that, contrary to what was reported by U.S. agencies, Argentina does not grant subsidies to its biodiesel producers.

According to the ministry, the high tariffs imposed "do not correspond to any objective research or methodology acceptable from the World Trade Organization (WTO) rules point of view.

"Argentina will seek to reverse this preliminary decision by defending the interest of our country, will evaluate all available options and reserves the right to carry out relevant legal actions," the Foreign Ministry warned.

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