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WTO confirms ruling in favor of Argentina in biodiesel imports dispute with EU
10/10/2016 12:00
The World Trade Organization confirmed on appeal on Thursday its ruling partially in favor of Argentina in its dispute with the European Union over duties the bloc imposes on imported biodiesel.
Argentina, the world's top producer of biodiesel, which it makes from soybean oil, in 2013 challenged before the world trade court tariffs that the EU imposed to guard against “dumping” of fuel at cut-rate prices.
In April, the WTO found fault with the EU's calculation of production costs in Argentina, but also rejected some claims of mistreatment leveled by Buenos Aires.
Both sides appealed the ruling, but the WTO's appellate body let it stand. Once the ruling becomes official in 30 days, the EU will have to inform the WTO how it plans to bring its measures into line.
The EU had argued that domestic tax breaks allowed Argentine producers to sell biodiesel at artificially low prices, which it said put European producers at an unfair disadvantage.
The EU responded by hitting Argentine biodiesel with a 24.6% tax, which had been due to remain in place for five years.
Argentina, the world's top producer of biodiesel, which it makes from soybean oil, in 2013 challenged before the world trade court tariffs that the EU imposed to guard against “dumping” of fuel at cut-rate prices.
In April, the WTO found fault with the EU's calculation of production costs in Argentina, but also rejected some claims of mistreatment leveled by Buenos Aires.
Both sides appealed the ruling, but the WTO's appellate body let it stand. Once the ruling becomes official in 30 days, the EU will have to inform the WTO how it plans to bring its measures into line.
The EU had argued that domestic tax breaks allowed Argentine producers to sell biodiesel at artificially low prices, which it said put European producers at an unfair disadvantage.
The EU responded by hitting Argentine biodiesel with a 24.6% tax, which had been due to remain in place for five years.
Source: Mercopress
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