BRUSSELS (Reuters) - The European Union's trade authority plans to start an investigation into whether U.S. bioethanol exporters are receiving illegal state subsidies and selling their fuel to Europe at illegally low prices, diplomats said on Tuesday.
The European Commission investigation could result in import tariffs as early as next year on hundreds of millions of liters of the fuel if EU officials were to unearth evidence of unfair trade practices in the United States.
"The Commission wants an investigation and EU capitals will not stand in the way, so it will begin this month," said one diplomat.
