MOSCOW (Pakistan Point News / Sputnik - 26th June, 2020) US phosphate and potash manufacturer Mosaic on Friday petitioned the US government to impose tariffs on fertilizer imports from Russian and Moroccan, citing allegedly unfair subsidies those countries' producers receive from their governments.
"The Mosaic Company (NYSE:MOS) today is filing petitions with the U.S. Department of Commerce and the U.S. International Trade Commission that request the initiation of countervailing duty investigations into imports of phosphate fertilizers from Morocco and Russia," the company said in a statement.
It claims that subsidized imports are distorting the US fertilizer market, necessitating imposition of countervailing duties.
"Mosaic believes in free trade and vigorous competition, and we believe we should compete on a level playing field," Mosaic President and CEO Joc O'Rourke said.
The next step is for the US Department of Commerce and International Trade Commission to review the petition and potentially initiate an administrative investigation.
According to the WTO requirements, to impose countervailing measures, a country has to determine the existence of subsidized imports, economic damage to a domestic industry, as well as a causal link between the two.
