Peru extends countervailing duties on Argentine biodiesel imports for five years
In Peru, the Gestión reports Dumping, Subsidies and Elimination Commission of Non-Tariff Commercial Barriers of the Indecopi decided to extend the validity of the countervailing duties imposed on imports of biodiesel from Argentina for an additional period of 5 years. The measure was taken to protect the domestic industry and prevent the subsidy practices from continuing or repeating itself, the entity said.
Indecopi told Gestión that the so-called “compensatory rights” are not the same as those pointed out as “anti-dumping rights”, which have increased in recent times.
Countervailing duties are trade defense measures which consist of the imposition of surcharges imposed by the competent authority of a country on the import of a foreign product, when it is found that it receives subsidies or subsidies from its home government.
In the case of Argentine biodiesel, Peru, through the Indecopi, has applied countervailing duties since 2016, which have been periodically renewed in the framework of previous examination procedures processed with high technical rigor under the rules of the World Trade Organization (WTO).
Category: Policy
