U.S. confirms import tariff hike on Argentine biodiesel

[sandensea]

Following failed negotiations, the U.S. Department of Commerce decided to impose tariffs of 72% on imports of Argentine biodiesel.

The Commerce Department had already imposed a 50% to 64% tariff on imports of the Argentine biodiesel in August. The then-preliminary sanction was prompted by claims by private U.S. biodiesel producers, which accused Argentina of dumping and unfair practices.

Thursday's final decision means that the Trump administration considered the American producers' claim legitimate.

"The biodiesel industry has been hurt in recent years by unfairly traded imports from Argentina and Indonesia," said Doug Whitehead, director of operations for the National Biodiesel Board.

Argentine President Mauricio Macri said his government would "definitely appeal to the World Trade Organization" (WTO).

While biodiesel is just 2% of Argentine exports, 90% of the $1.2 billion in Argentine biodiesel exports last year were purchased by the U.S. - supplying around 15% of the total U.S. market.

Preliminary tariff hikes in August had already depressed Argentine biodiesel exports from 167,000 tons in September 2016, to 30,000 this September - mostly to Spain.

Biodiesel had become the country's largest export to the U.S. in 2016, making up 25% of the $4.6 billion in U.S. imports from Argentina last year.

At: http://www.iii.co.uk/alliance-news/1510268031016682400-3/argentina-us-confirms-import-tariff-hike-on-argentinean-biodiesel

[Judi Lynn]

1. This won't enhance the budding friendship between these two grifters, will it?

Macri and The Thing have so much in common, too. I guess they both realize either one might stab the other in the back at any time.

Another article:

NOVEMBER 9, 2017 / 10:46 AM / A DAY AGO
U.S. sets final anti-subsidy duties on Argentine, Indonesian biodiesel
Eric Walsh, Michael Hirtzer

WASHINGTON/CHICAGO (Reuters) - The U.S. Commerce Department on Thursday said it set final anti-subsidy duties on biodiesel imports from Argentina and Indonesia, pushing soyoil futures to a two-month high even though the decision was expected.

The final duties for soy-based Argentine biodiesel were even higher than preliminary countervailing rates set in August, when imports ground to a virtual halt as Argentine exporters said the tariffs priced them out of the U.S. market.

Argentina’s foreign ministry said that unless the decision is reversed, it might take the dispute to the World Trade Organization - echoing a promise by Argentine President Mauricio Macri on Tuesday.

Argentine biofuel industry group Carbio said the decision confirmed the U.S. market was closed to Argentine producers and would complicate recent economic reforms in the South American nation.

More:
http://www.reuters.com/article/us-usa-biodiesel/u-s-sets-final-anti-subsidy-duties-on-argentine-indonesian-biodiesel-idUSKBN1D92GV

[sandensea]

2. Great find. Many did indeed think their past friendship would somehow benefit Argentina.

They just don't understand sadists like Trump. He's just too used to stepping all over the Macris - and having them thank him for it.

You'll recall that he cheated the elder Macri out of the Lincoln West deal in the Upper West Side in 1984. The Macris, instead of calling him out for it, tried to win him over by inviting him to their estate and golf course in suburban Buenos Aires. Trump in fact returned numerous times over the next 20 years.

But the Macris failed to understand that kindness is utterly lost on our friend Cheeto. He just sees it as weakness and "kissing up."

Add to that: the failed Trump Tower deal in Buenos Aires last year. The city (foolishly) refused to approve the building permits; the new mayor, while a Macri ally, is keen on maintaining a reputation as "Mr. Clean" and approving the project would (for obvious reasons) look too suspicious.

It was strictly a municipal decision, you see - but try telling Cheeto that! He's still convinced Macri nixed it out of revenge for Lincoln West.

I tell you: someone should make a movie out of this saga of theirs. No Honor Among Thieves?