Results tagged “illinoisjobs”

The Obama Administration announced late Thursday that it would offer up to $5 billion in revolving credit to guarantee payments owed to thousands of auto parts suppliers. The funding, which doesn't inject cash directly into businesses, will provide liquidity to keep an industry that supports some half a million jobs operating. Both General Motors and Chrysler will also kick in five percent, or about $250 million each.

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."