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On Tuesday a European Union trade committee approved temporary anti-dumping and anti-subsidy duties on imports of biodiesel from the United States. One of the companies affected by this decision is Archer Daniels Midland (ADM), which is headquartered in Decatur, Illinois. ADM will face a tariff of 26 euros (about $32) per 100 kg of biodiesel imported, beginning March 13. The tariffs are the latest salvo in an ongoing trade dispute that has been simmering between Brussels and Washington. "If ... these duties will be imposed, then this proves our complaint was well founded," Raffaello Garofalo, secretary general of the European Biodiesel Board, told Reuters. "This will re-establish a level playing field and put an end to unacceptable and artificial prices created by U.S. biodiesel producers."
Earlier this year the EU announced its opposition to the so-called "Buy American" clause in the economic recovery bill that was signed into law last year. The massive spending bill, designed to kick-start the U.S. economy by pumping billions of dollars into the national economy through tax cuts and construction projects requires the use of American manufactured iron and steel products in construction projects that use recovery funds. Critics of biodiesel, including prominent scientists and economists, argue that production of biofuels converts arable land from food to fuel production, while pushing food prices on the global market higher.
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As soon as your headline made me feel sorry of ADM, a sorry that came to a screeching halt as soon as I found out the company in question was ADM, I knew there was more to this story.
In the article you link to the issue is ADM taking Brazilian biodiesel mixing it with 5% US biodiesel then getting a subsidy on 100% of the mixture from the US and exporting the mixture to the EU. So your story should be about how Agri-giant ADM is not only getting a bogus subsidy from the US taxpayers they are bitching about having to pay a tariff to SHIP AN ENERGY RESOURCE OUT OF AMERICA. For christ sakes, we have been hearing about energy independence for damn near 4 decades now and we are exporting fuel? WHAT THE FUCK!!!
Also what is the carbon footprint of shipping biodiesel from Brazil, unloading it, mixing it, loading it backup and sending it over to Europe? What a bunch of messed up commodities trading BS this green fuel is.
I wasn’t suggesting that we should feel sorry for ADM.
I am suggesting, however, that the EU is a bunch of hypocrites for slapping tariffs on something that threatens jobs in their countries, while simultaneously threatening a trade war with the US if provisions are included in the economic recovery act requiring American tax dollars to be spent on American manufacturing and construction.
If Europe is concerned about their economy, they’re free to spend their tax euros shoring it up.
Yeah ADM's a red flag. Beware of all the praise of Biodiesel.