Global Geo-political Series: U.S. commerce department imposes 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.

Last night, U.S. commerce department announced imposing preliminary 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 54.36 percent to 70.05 percent and 50.71 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 Trump Administration is committed to both free and fair trade and will defend American workers against unfair trade practices…..Still, we are thankful to the Government of Argentina for their proactive approach to solving this issue, and remain optimistic that a negotiated solution can be reached both with Argentina and with Indonesia.”

Under Trump administration, Antidumping (AD) and CVD investigations have increased by 52 percent compared to the same period in 2016. 73 investigations were initiated by the administration.