Tax-News.com: WTO Outlaws EU Duties On Argentinian Biofuel
by Ulrika Lomas, Tax-News.com, Brussels
01 April 2016
The World Trade Organization (WTO) on March 29, 2016, issued a panel report on the complaint filed by Argentina over European Union anti-dumping duties on biodiesel.
Argentina filed the complaint in December 2013, alleging that the anti-dumping duties and the investigation underlying them were in violation of WTO rules. Argentina’s Foreign Ministry said that the duties caused the country to lose out on USD1.6bn worth of biodiesel exports each year.
The WTO panel ruled in favor of Argentina in most areas, agreeing that the European Union had erred in attempting to remove a perceived distortion in relation to the cost of the good in the domestic market, Argentina, and also that the EU was wrong in its calculation of the selling price of the goods from Argentinian exporters to the EU market.
The panel requested the EU to bring the measures into conformity with WTO rules.
Argentina and the EU are allowed to appeal the WTO ruling within a 60-day period.