A potential reduction in countervailing duty (CVD) rates on imports of Argentine biodiesel is being opposed by the National Biodiesel Board (NBB).
The Commerce Department has issued a preliminary decision in a “changed circumstances” review of the CVD rates on imports of Argentine biodiesel, finding that Argentine changes to their export taxes has eliminated certain government subsidies given to Argentine biodiesel producers.
The action, if finalized, would trim the CVD levels to an average of 10 percent from the current mark of 72 percent. Commerce is not proposing a change in the antidumping rates which currently average 75 percent.
"NBB and the Fair Trade Coalition strongly disagree with Commerce's proposal to virtually eliminate countervailing duty rates on Argentine biodiesel,” said NBB Vice President of Federal Affairs Kurt Kovarik. “This appears to be an unprecedented and unjustified accommodation to Argentinian producers that threatens to harm U.S. biodiesel producers and soybean farmers.”
Commerce is expected to issue its final finding in September.