U.S. ethanol producers on Tuesday criticized the European Union for imposing a five-year tariff that will drive up the price of American ethanol sold in Europe by about 10 percent, or 25 cents per gallon.
The duty, imposed after an investigation of alleged dumping, will benefit German, French, British and other E.U. renewable energy producers but threatens to raise transatlantic trade tensions. “That shuts us out of the market — we are no longer the lowest-cost fuel on the planet,” Ed Hubbard, general counsel of the U.S. trade group, the Renewable Fuels Association, said in an interview.
The duty of 62.30 euros ($83.20) a metric ton aims to punish U.S. exporters of ethanol for allegedly selling it in Europe below cost, a practice known as dumping.
Read more: E.U. ethanol tariff hits home | StarTribune.com
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