WASHINGTON Feb 19 Two biofuels trade groups on
Tuesday lambasted a European Union decision to impose a tariff
on U.S.-made ethanol as a protectionist move and said they would
challenge the tariff "in every way possible."
The 9.5 percent tariff on imports of U.S. ethanol was
approved on Monday by the Council of the European Union. The
imports were worth more than $930 million, or 700 million euros,
"This is blatant protectionism at its worst," trade groups
Renewable Fuels Association and Growth Energy said in a joint
statement. They said the rare country-wide tariff was not based
EU officials say U.S. ethanol is being sold at unfairly low
prices due to subsidies.
"We will challenge this policy in every manner possible,"
the groups said .
U.S. ethanol production is down sharply due to record-high
corn prices and weak domestic demand for gasoline. At recent
rates of production, output could be 8 percent below the U.S.
target for use.