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The countries of the European Union are examining whether US bioethanol producers are receiving trade-distorting government aid, which could lead the EU to impose retroactive tariffs on US bioethanol products exported to European countries.
The EU inquiry is largely focusing on US bioethanol producers Archer-Daniels-Midland Co. (ADM), Valero Energy Corp. (VLO) and Poet LLC.
The inquiry was launched late last year after the EU was prompted to investigate whether government aid to US bioethanol producers was harming European producers and whether US producers were dumping bioethanol on the European market.
“Imports of the product concerned shall be made subject to registration so that, eventually, measures may retroactively be applied against those imports from the date of such registration,” the European Commission, the 27-nation EU’s trade authority in Brussels, said today in the Official Journal.
By 25 December, EU governments will decide whether to slap tariffs, retroactively for five years, on US bioethanol products. They also have until 25 February to decide whether the bloc will slap anti-dumping fines on those same producers. Provisional duties could be imposed as early as today, 27 August, though this is less likely to happen according to the EU’s own admission.
By. Joao Peixe of Oilprice.com
Joao is a writer for Oilprice.com