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EU imposes anti-dumping tariff on Argentine biodiesel

 
 
 
 
 
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The European Union has imposed anti-dumping duties on biodiesel imports from Argentina in a move dubbed by Buenos Aires as “aggressive protectionism,” Press TV reports.

The decision by Brussels to levy 10.6-percent tariff on biodiesel took effect on Friday and will be in force for six months.

Argentina’s Foreign Ministry slammed EU’s decision, saying, “The measure is due to the inability of European producers to compete with more efficient producers,” describing the measure as a “protectionist decision that lacks technical justification.”

Spain was the first EU member state to hinder Argentina’s biodiesel exports.

Argentina’s President Cristina Kirchner decided to nationalize energy giant, YPF, from Spain’s Repsol in 2012, which Buenos Aires said was aimed to protect the country’s energy sovereignty.

Spain sought to take revenge on Argentina over the nationalization by blocking all Argentinean biodiesel imports into the country.

However, Buenos Aires filed a formal complaint to the World Trade Organization (WTO) against EU to challenge the Spanish rules which Argentina argues are discriminatory against its biodiesel exports.

The newly imposed anti-dumping tariff also applies to biodiesel imports from Indonesia.

After six months, the European Commission can prolong the tariff for up to five years. However, the WTO could force the union to lift the duties.

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