Argentina moves to eliminate taxes paid by biodiesel producers

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Argentine President Cristina Fernandez on Monday asked Congress to eliminate some of the taxes paid by biodiesel manufacturers in a bid to support an industry hard hit by European Union anti-dumping measures. Argentine biodiesel exports are expected to plunge as much as 39 percent this year versus 2013 due to tariffs imposed by the European Union, according to the Argentine industry sources. “We are in a trade war,” Fernandez said in announcing the measure, which will be sent to Congress in the days ahead.