US ethanol exports to Brazil will not face significant tariffs this year.
Renewable Fuels Association CEO Geoff Cooper said that the Brazilian government has extended the suspension of a 20% tariff that was set to resume on January 1.
“This extension buys us some time and gives us some breathing room to work with the new administration on a longer-term, permanent resolution to that tariff. And our goal of course is to have it removed entirely,” Cooper said.
He added that Brazil was a major customer of US ethanol and added that it was also the largest source of ethanol imports into the US.
“We’ve had a long and prosperous trading relationship with Brazil, and we want to see it restored to the point where both countries are open to each others products. So that’s our goal,” he added.
Cooper revealed that the ethanol tariff has been suspended through to the end of January and that the incoming administration has been supportive of duty-free access in the past.
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