EU Imposes Anti-Dumping Duties On Biodiesel From U.S.

The European Union (EU) on Tuesday decided to impose anti-dumping duties and countervailing duties on imports of biodiesel originating in the United States.

The decision was made by EU finance ministers who met in Brussels on Tuesday.

The punitive measures were adopted after a European Commission investigation concluded that biodiesel from the United States had been sold in the EU below the normal value price and had benefited from state subsidies.

The anti-dumping duty rates will range from 68.6 euros (about 96.17 U.S. dollars) per ton to 198 euros per ton net. The countervailing duty rates will range from 211.2 euros per ton to 237 euros per ton net.

The measures would last five years. (1 U.S. dollar = 0.7133 euros)