China which recently waived tariffs on several U.S. products including ethanol is reportedly receiving a shipment of U.S. ethanol. Renewable Fuels Association President and CEO Geoff Cooper says while it’s not a large shipment, it leads to optimism China will be importing more American ethanol in the future.
He says while there’s been some delay with implementation of the phase one trade deal with China due to the pandemic, the latest developments seem to indicate that’s improving.
Cooper says exports are critical for U.S. ethanol and getting that product out is more important every day given the slowdown at the domestic level due to policy problems and the pandemic.
Earlier tariffs on U.S. fuel ethanol were as high as 70 percent after Beijing upped some retaliatory tariffs on U.S. imports in a back and forth trade dispute with the United States. Recently China waived tariffs on some 700 American products.
