Biodiesel tariff: China’s trade tensions with the European Union could intensify further
The EU is set to impose provisional tariffs of up to 36.4% on Chinese biodiesel imports from August 16, potentially escalating trade tensions with China. The tariffs, part of an ongoing investigation, may become definitive for a five-year period in February. China has expressed concerns, warning of a backlash that could increase costs and harm industries and consumers. The EU’s €31 billion biodiesel market is crucial for meeting consumption needs and supporting green transformation and energy efficiency goals.
China’s trade tensions with the European Union (EU), exacerbated by recent tariff hikes and protectionist measures by Brussels against Chinese companies, are likely to escalate further. The EU is poised to impose provisional duties of up to 36.4% on biodiesel imports from China.
These provisional tariffs are set to take effect on August 16, with an ongoing investigation that will continue until February. At that time, definitive duties for a five-year period may be established.
Officials and analysts warn that the EU’s tariff actions could provoke a backlash, potentially increasing costs for certain products and negatively impacting both industries and consumers within the bloc.
China has expressed significant concerns about the EU’s protectionist stance in the biodiesel sector, as noted by He Yongqian, a spokeswoman for the Commerce Ministry, during a news conference in Beijing.
Biodiesel, a renewable and biodegradable fuel made from vegetable oils, animal fats, or recycled restaurant grease, is crucial for meeting the EU’s substantial consumption needs and supporting its green transformation and energy efficiency goals.
According to a statement from the EU Commission in December, the EU’s biodiesel market is valued at €31 billion (US$33.7 billion) annually. Biodiesel serves as a renewable alternative to fossil fuels in the transport sector and enhances the bloc’s energy security.
Source Link : https://bioenergytimes.com/biodiesel-tariff-chinas-trade-tensions-with-the-european-union-could-intensify-further/
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