A European Union Trade panel on Tuesday approved duties on imports of biodiesel from the United States, according to a Reuters report.
Beginning March 13, U.S. firms exporting biodiesel into the EU will have to pay a tariff ranging from from EUR 26 to EUR 41 per 100 kg.
Companies affected include Archer Daniels Midland (NYSE: ADM), Cargill, Imperium Renewables, Green Earth Energy Fuels, World Energy Alternatives and Peter Cremer North America.
The tariff will last for six months in an effort to keep American companies from flooding the EU market with cheap, subsidized biofuel.
The EU could decide to extend the duties for five years. The issue is shaping up to be a troublesome spot for U.S.-European relations.
Read Reuters coverage at the link below.
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