Canadian renewable diesel producer Tidewater Renewables said in its third-quarter earnings report that it has hired outside trade law consultants and plans to soon file a trade remedy complaint with the Canadian government to ban U.S. renewable diesel from entering the Canadian market.
Tidewater Renewables said its management believes the pricing of U.S. renewable diesel entering Canada is unfair and ‘has a significant negative impact on the competitiveness of our domestic business.’
Tidewater said that based on available information and advice, its management believes that a trade case against U.S. renewable diesel imports ‘has a reasonably high likelihood of success.
Preparation of the company’s trade complaint is progressing at a rapid pace,’ the company said. The complaint could be filed before the end of 2024, with tariff reductions coming into effect in 2025 if the government initiates an investigation and concludes that the unfairly traded imports are harming Canadian production.’
Tidewater Renewables says it is seeking to level the playing field to support the viability and further development of the Canadian renewable diesel industry, which will also enhance Canada’s energy security.