A group representing Cargill and Archer-Daniels-Midland pushes a surprising target for the next set of U.S. tariff hikes: used cooking oil from China [Fortune]
Archer-Daniels-Midland Company (ADM)
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Source: Fortune
A group that represents the biggest U.S. soybean processors, including Cargill Inc., Bunge Global SA and Archer-Daniels-Midland Co., wants the levies to be higher than the current 15.5% rate, according to a notice the National Oilseed Processors Association, or NOPA, sent to its members over the weekend that was seen by Bloomberg. NOPA Chief Executive Officer Kailee Tkacz Buller said the memo was sent in response to rumors of possible additional tariffs being applied on used cooking oil. Association members support a boost on par with other clean energy sources, such as electric vehicles and solar, to level the playing field, Buller said in an email. Soybean crushers worry a flood of used cooking oil imports from China is weakening demand for U.S. crop-based ingredients that can be used to make renewable diesel and sustainable aviation fuel. There's also widespread, unconfirmed speculation the used oil from Asia may not be authentic and instead is mixed with fresh vegetable oils,
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ADM
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