The head of the Argentinean Chamber of Biofuels (Carbio), Luis Zubizarreta, urged his country’s government to appeal to the World Trade Organization (WTO) to arbitrate the tax of up to 72.28% imposed by the United States against Argentinean biodiesel.
“The absolutely protectionist measure of the United States government was expected, but it does not stop being unjust and irrational, and without technical and legal support, despite the enormous effort of the Foreign Ministry,” said Zubizarreta.
“The United States is in the process of closing its economy, and we are paying for part of it,” he added, in an interview to T?lam Radio.
He also said that “it is key that the Argentinean government resorts to the World Trade Organization. There is no other way.”
Argentina won a similar dispute in the WTO with the European Union, which had imposed countervailing duties on imports of Argentinean biodiesel, also for alleged dumping.
The material has been provided by InstaForex Company – www.instaforex.com
Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.
