Three U.S. renewable fuel leaders say it's encouraging that Brazil is postponing its decision regarding tariffs on imports of U.S. ethanol.
U.S. Grains Council President and CEO Tom Sleight, Renewable Fuels Association President and CEO Bob Dinneen and Growth Energy CEO Emily Skor issued a joint statement July 5 after the Executive Management Committee of CAMEX, Brazil’s Chamber of Foreign Trade, announced it would delay a decision on a pending proposal to impose a tariff of up to 17% on Brazil’s imports of U.S. ethanol.
“Our organizations have been tracking this issue for months and have worked heavily in Washington, D.C., and Brasilia to provide all necessary information to the Brazilian government on this issue," the three said. "Imposing tariffs on U.S. ethanol imports will hurt Brazilian consumers by driving up their costs at the pump. Additionally, this action on U.S. ethanol imports will go against Brazil’s own longstanding view that ethanol tariffs are inappropriate and will harm the development of the global ethanol industry. We will continue this work and appreciate the thoughtful consideration Brazilian officials are taking on a proposal that could have wide-ranging and long-standing impacts on both our industries and the global fuel supply.”
Source: U.S. Grains Council