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U.S. Bioethanol Makers Face 5-Year EU Anti-Dumping Tariff

Feb 19, 2013
Source: 
(Bloomberg)

The European Union imposed a five- year tariff on U.S. bioethanol to curb competition for German, French, British and other EU producers, threatening to raise trans-Atlantic trade tensions over renewable energy for autos.

The duty of 62.30 euros ($83.20) a metric ton punishes U.S. exporters of bioethanol including Poet LLC for allegedly selling it in the EU below cost, a practice known as dumping. The levy follows existing EU anti-dumping duties on imports from the U.S. of biodiesel, another renewable-energy source for vehicles.