China Raises Import Duty on US Denatured Ethanol to 70% from 45% as of July 6
by Christine Siantar (Platts) China’s ministry of commerce said the import duty on US-origin denatured ethanol will rise to 70% on July 6 from 45%, as part of a wider retaliation to the US imposing import tariffs on Chinese goods.
Other agriculture products such as sorghum, soybeans and wheat were also subjected to the additional 25 percentage points import duty.
The higher import duty will keep the arbitrage window closed for the remainder of the year for exports of US fuel ethanol to China, trade sources said.
“With 45% import duties since April, arbitrage was already tightly shut With 70% now, this [US to China] trade flow is gone,” a trader said. READ MORE
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