EU Biodiesel Tariff Will End U.S. Exports

U.S. biofuel producers said tariffs imposed by the European Union last Friday will end their exports of the alternative fuel to the continent.

The EU said the tariff is necessary to level the playing field for European producers who have been unable to compete with U.S. companies that receive a $1 credit for blending a gallon of biodiesel with conventional diesel.

The tariffs are expected to raise the price of biodiesel in the EU. The group of nations are considering extending the six-month tariff  over the next few years. 

U.S. companies said they will look to growing markets in Southeast Asia, as well as the market for heating fuel in the U.S. 

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