Global Geo-political Series: U.S. commerce department announces final CVD on biodiesel from Argentina and Indonesia

Under the Trump administration, the U.S. commerce department, under the guidance of Secretary Wilbur Ross continues to take a tough stance on countries that have used unfair means to promote exports.

On Friday night, U.S. commerce department announced the final countervailing duties (CVD) on imports of biodiesel from Argentina and Indonesia. According to the commerce department, in the antidumping duty (AD) investigations of biodiesel from Argentina and Indonesia, the exporters in the two countries sold this merchandise in the United States at dumping margins of 71.48 to 72.28 percent and 34.45 to 64.73 percent, respectively. The commerce department has asked U.S. customs and border protection agency to collect cash deposits from importers based on these rates.

In 2016, imports of biodiesel from Argentina and Indonesia were valued at an estimated $1.2 billion and $268 million, respectively.   

Commerce Secretary, Mr. Ross said, “The unfair government subsidization of products is something the Department takes very seriously….While the United States is committed to free, fair and reciprocal trade with all countries, the Trump Administration will stand up for American workers and companies being unfairly harmed.”

Under Trump administration, Antidumping (AD) and CVD investigations have increased by 61 percent compared to the same period in 2016. 77 investigations have been initiated by the new administration since assuming power.