The bipartisan group of 21 members of the U.S. Congress are asking Trade Representative Katherine Tai to address the Brazilian tariffs on U.S. ethanol and the non-tariff barrier created by the biofuel program implemented in 2020.
Those carbon credits are sold to fuel distributors in Brazil who have targets to cut emissions, or in a secondary market at Brazil's B3 exchange. They also complained about the lack of approval from Brazilian authorities of U.S. companies' applications to take part in RenovaBio to be able to generate and sell carbon credits.
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