EU announces 5-year extension of tariffs on US biodiesel imports
The European Union on Aug. 2 published a notice announcing it will extend tariffs on U.S. biodiesel for an additional five years, through 2026, following a review by the European Commission. The tariffs have been in place since 2009.
The European Biodiesel Board filed a request with the European Commission in June 2020 on behalf of the European biodiesel industry seeking the five-year extension. The Commission formally launched an investigation review on the anti-dumping and countervailing measures in September 2020.
In the notice published Aug. 2, the Commission said that its investigation demonstrated that two scenarios were possible if the tariffs were to lapse, including a surge of biodiesel imports from the U.S. and a drop in prices in the EU due to increased competition.
“If existing measures were allowed to lapse, the [EU] industry will most certainly be faced with increased unfair competition from the US biodiesel producers most likely putting an abrupt halt to the on-going recovery of the [EU] industry,” the Commission said in the notice.
A full copy of the notice can be downloaded from the European Commission website.
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