Tidewater Renewables Files Complaint Against U.S. Diesel Imports

Tidewater Renewables Ltd. has filed a countervailing and anti-dumping duty complaint with the Canada Border Services Agency to challenge what it describes as unfair trade practices in the Canadian renewable diesel market, specifically targeting U.S. imports. The company claims these imports benefit from significant subsidies and dumping practices, with estimates suggesting a subsidy margin of 40% to 60%. If successful, the complaint could impose duties of $0.50 to $0.80 per liter on U.S. renewable diesel imports, aiming to restore fair competition and protect the Canadian industry. Tidewater's CEO, Jeremy Baines, emphasized the necessity of this legal action to ensure the viability of local producers against foreign competition. This move comes amidst rising concerns over market distortions caused by U.S. government subsidies, particularly the Blender's Tax Credit and the forthcoming Production Tax Credit. The complaint underscores Tidewater's commitment to maintaining a competitive environment in the renewable diesel sector.