The Executive Management Committee of CAMEX, Brazil’s Chamber of Foreign Trade, announced Tuesday a 30-day delay of a decision on a pending proposal to impose a 20 percent tariff on U.S. ethanol imports. The proposal would allow 500 million liters (132.1 million gallons) annually of U.S. ethanol imports before triggering the tariff.
The following is a joint statement on this action from U.S. Grains Council (USGC) President and CEO Tom Sleight, Renewable Fuels Association (RFA) President and CEO Bob Dinneen and Growth Energy CEO Emily Skor:
“We are encouraged to see Brazil’s postponement on a decision regarding a pending proposal to impose tariffs on U.S. ethanol imports. This decision should not be taken lightly, as 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 to work towards educating Brazilian policymakers on how misguided this tariff would be, which would harm consumers by denying them access to the lowest cost, cleanest and highest octane source of fuel in the world. This proposal, if implemented, would have wide-ranging and long-standing impacts on both our industries and the global fuel supply.”