Renewable Fuels Association CEO Fires Back at China's Latest Attack on US Ethanol and FarmersMon, 02 Apr 2018 14:45:00 CDT
On Monday, China added a 15% tariff on U.S. ethanol imports. The move came in response to the Trump Administration’s announcement of duties on imported aluminum and steel products. This is in addition to an already-imposed duty of 30%, making the total tariff 45% on U.S. ethanol. Renewable Fuels Association President and CEO Bob Dinneen had the following statement:
“Once again we were disappointed to learn of China’s retaliatory actions against ethanol. China was the third-largest market for U.S. ethanol exports in 2016, accounting for almost 20% of total exports. However, once the country imposed its first U.S. ethanol import tariff, shipments to China nearly disappeared. In recent months, U.S. ethanol shipments to China resumed as the cost competitiveness of ethanol produced in the U.S. overwhelmed China’s protectionist policy. The imposition of this new additional tariff will likely again preclude sales to the country.
“This one-two protectionist punch will ultimately harm Chinese consumers who are being denied access to the lowest-cost, highest-octane, and cleanest fuel on the planet. But it will also hurt farmers in the U.S. who have worked to build value-added markets for their commodities here and abroad.
“RFA urges the administration to work aggressively to have this latest attack on America’s rural economy removed as quickly as possible.”
Source - Renewable Fuels Association
WebReadyTM Powered by WireReady® NSI
Top Agricultural News