China tariffs on U.S. ethanol to cut off imports in short-term

BEIJING (Reuters) - Chinese buyers of U.S. ethanol will have to cut imports because of higher tariffs, but eventually will have to return to the overseas market to meet government targets for using the fuel, industry participants and analysts said on Monday.China said late on Sunday it will slap an extra 15 percent tariff on ethanol imports from the United States, part of its response to U.

S. duties on aluminium and steel imports. The previous duty was 30 percent.The tariffs, effective Monday, will neutralize cost savings from importing cheaper.

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