EU considers extending import duties on US biodiesel

The European Commission has submitted a proposal to extend the temporary tariffs imposed on imports of US biodiesel for up to five years. The anti-dumping and anti-subsidy tariffs passed in March were established in order to protect European biodiesel producers by counteracting the payments the US gives its own producers. European biofuel producers stressed that US subsidies triggered an influx of under-priced American imports therefore hijacking their own market. This new proposal by the Commission has recommended an increase in tariffs against some firms, but a decrease for the companies that cooperated with their investigation into US biodiesel subsidies. The move is warmly welcomed by the European biodiesel industry, who have been struggling to cover their costs in an increasingly tough market. Should European ministers endorse the extension of the duties within the next month, the measures would take effect within four to six weeks.