Today, the U.S. Department of Commerce announced its decision to begin a changed circumstances "review" on anti-dumping and countervailing duties on biodiesel imports from Argentina.
Foreign Minister Jorge Faurie stated that the decision by the U.S. Department of Commerce is "a direct result of our new integration into the world" and added that "if negotiations are successful at the end of the process, this is a possibility for exports of an Argentine product with high added-value to recover access to the very significant U.S. market."
Although U.S. law establishes that the determinations made in January and April 2018 may only be reviewed 24 months after being in force, the U.S. Secretary of Commerce considered that there is good cause to begin the review and waive the requirements provided for in U.S. law.
The review was requested by the Argentine Government, with the support of Argentine exporting companies, and on the basis of changed circumstances caused by reducing the tax differential between export duties on biodiesel and duties on soybean and soybean oil.
The Secretary for International Economic Relations, Horacio Reyser, regarded this decision as "correct" and as "allowing us to look for a lasting solution to this matter."
Argentina considers that eliminating the export tax differential on these duties addresses the concern of the U.S. Department of Commerce during preliminary investigations.
Prior to anti-dumping and countervailing duties, Argentine biodiesel exports to the United States amounted to approximately USD 1.5 billion per year, accounting for 25% of total Argentine exports to the United States in 2016.
Press Release No. 449/18