Brazil delays, again, decision on tariffs for US ethanol
Ethanol production facility in the US. Featured Image: Jim Parkin/Shutterstock.com
Brazil's chamber of foreign trade, CAMEX, has again postponed a decision on imposing tariffs on ethanol imports from the US.
CAMEX on Thursday announced it will delay for 30 days a decision on a pending proposal envisaging a tariff of 20% to be triggered after the first 500 million liters (132.1 million gallons) of US ethanol imports per year, according to a joint statement from US trade groups US Grains Council (USGC), Renewable Fuels Association (RFA) and Growth Energy.
Brazilian ethanol producers have been calling for the imposition of tariffs in the face of a surge of imports from the US. While the country's agriculture ministry had recommended a 17% tariff, other ministries opposed the measure as it could lead to retaliation by the US, Reuters reports. CAMEX includes eight ministries.