Tariff Tides: The Impact of Trump's Policies on Biofuels and SAF Markets
SAF, RD below 50% fossil blend, ethanol, and biodiesel all included in Trump's slew of tariffs.
Highlights:
- President Trump announced on April 2 reciprocal tariffs for multiple countries, while leaving out Canada and Mexico. He also announced a 10% tariff on all imports into the US
- Pure renewable diesel (RD) and sustainable aviation fuel (SAF) are tariffed, while blends of these fuels above 50% renewable component are also tariffed
- Tariffs threaten the US’s position as largest ethanol exporter if countries counter, with the potential to reduce ethanol exports to nearly 95,000 b/d, down from 2024’s average of 125,000 b/d
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