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Last night, the U.S. Commerce Department announced final results of the Anti-dumping investigations on imports of biodiesel from Argentina and Indonesia. The investigation was initiated back in November last year in response to a petition by National Biodiesel Fair Trade Coalition, an ad hoc association composed of the National Biodiesel Board and 15 domestic producers of biodiesel.
As a result of the investigation, the Commerce Department found that exporters from Argentina and Indonesia have sold biodiesel in the United States at 60.44-86.41 percent and 92.52-276.65 percent less than fair value, respectively. The Commerce Department has instructed the United States’ Customs and Border Protection Agency (CBP) to collect cash deposits from importers based on these final rates.
According to Commerce Department’s calculations, imports of biodiesel from Argentina and Indonesia were valued at an estimated $1.2 billion and $268 million, respectively in 2016.
According to a statement from Commerce Department’s statement, it has been following through President Trump’s promise to cut down on malpractices in trade. From January 20, 2017, through February 20, 2018, the Commerce Department has initiated 102 antidumping and countervailing duty investigations, a 96 percent increase from the previous period.
A statement from the department quoted Secretary Ross as saying, “Today’s decision allows U.S. producers of biodiesel to receive relief from the market-distorting effects of foreign producers dumping into the domestic market…….While the United States values its relationship with Argentina and Indonesia, even our closest friends must play by the rules.”
