EU Extends Tariffs on U.S. Biodiesel for Five Years

The European Union will retain its tariffs on U.S. biodiesel for a further five years after concluding that removing them would likely lead to a surge of imports at artificially low prices, reportsReuters.

The tariffs, dating back to 2009, will be extended until 2026, the EU official journal said on Monday.

The European Commission, which reviewed the case, concluded that U.S. producers could increase to full capacity and also divert sales from some of their exports from less profitable markets to the European Union, the world's largest market.