European Commission to drop antidumping duties on Argentine biodiesel by September 28

In Belgium, the European Commission will by September 28 cut antidumping duties on Argentine biodiesel imports to between 4.5% and 8.1% from the 22% and 25.7% levels set in November 2013 following a World Trade Organization ruling in October 2016. The WTO that said the duties were too high and led to Argentina losing $1.3 billion in sales annually. The Argentine industry is breathing a sigh of relief thanks to regaining market access to Europe but the European industry worries that moving in the opposite direction as the United State who just imposed even higher tariffs than the EU had puts the market at risk of absorbing excess availability.