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Financial News: ARGENTINA: Country Still Wants To Negotiate Biodiesel Tari

ARGENTINA: Country Still Wants To Negotiate Biodiesel Tariff With The U.S.

09/04/2017 - 17:31:00 (RTTNews)

(RTTNews) - Argentina's Production Minister Francisco Cabrera indicated that the South American country would keep on talking to the United States to defend its biodiesel exports after the White House slammed a tariff of up to 61% on imports of the Argentinean product.

"We filed a formal complaint, and the U.S. Commerce Secretary told me he would take the lead in the matter," Cabrera said in an interview with the La Nación newspaper.

Last month, the U.S. Commerce Department imposed a 50% to 61% tariff on imports of the Argentinean biodiesel. The preliminary sanction results of research conducted by private U.S. biodiesel producers, which accused Argentina of dumping and unfair practices.

The official noted that "the magnitude of the tariff came as a surprise," since the government knew "that there would be a preliminary duty and then a negotiation, but this tax being so high does not encourage the American private sector to sit down and discuss," Cabrera said.

"Because of the magnitude of the sanctions that the U.S. has placed on Argentinean biodiesel, the move has left the U.S. policy in an offside position with Argentina, and now we can negotiate other things," Cabrera told La Nación.

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