U.S. reduces import duties on PhosAgro fertilizers
The U.S. Department of Commerce has lowered the tariff rates on imports of PhosAgro products from 28.5% to 18.21% following an administrative review. These updated rates will be applied retrospectively to imports from the 2022 fiscal year, with U.S. Customs set to collect monetary deposits from importers under these new conditions until at least 2026. A further administrative review is scheduled in two years’ time.
Last week, we reported that, unlike PhosAgro, Moroccan OCP saw an increase in their duty rate from 14.21% to 16.81%. The company plans to appeal the decision of the U.S. Department of Commerce, citing that the review process was not accurate.
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