Argentina Accuses EU

“The extent of the damages that this protectionist measure will cause to a dynamic and innovative industry leaves no alternative but to turn to the World Trade Organization (WTO)”, says an official statement released by the Argentinean Foreign ministry, announcing the decision of Buenos Aires to take action at the WTO against the European Union over anti-dumping duties on Argentine biodiesel. The EU measure effectively shuts down the European market for Argentine biodiesel, whose exports to the EU peaked in 2011 at some $1.847 billion US, the Foreign ministry said in the statement.

The EU in fact approved a European Commission proposal to impose heavier duties on Argentine and Indonesian producers, who already face provisional tariffs for dumping, selling at below fair market or cost price. The Commission proposed a tax of between 22 and 25 percent on biodiesel imports as of November 28, in respect to the average 8%.

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