Donald Trump’s Chinese Ambassadorial pick, Iowa Governor Terry Branstad, will continue to support the biofuel industry’s, Branstad said in Iowa Tuesday, despite the doubts over the industry’s future which other Trump executive choices have stirred
“The biofuel industry plays an important role helping to boost Iowa’s economy,” Branstad told delegates at the Iowa Renewable Fuel Summit in Altoona, IA.
“We hope to see the expansion of E15 consumption even to every convenience store,” Branstad added.
Branstad expects to achieve win-win trade co-operation between the US and China, the Ambassador told Iowa delegates.
“I totally understand both countries are faced with a different situation,” Branstad said. Trump’s future trade negotiations will focus on bilateral trade relations rather than the multi-lateral trade agreements pursued under the previous administration, he said.
Iowa, the heartland of the US biodiesel industry, pushed its own output to a record 297mn gal last year, according to data from Iowa’s renewable fuel industry, supplying 16% of US output. Soybean oil was used as an input for 66% of Iowan output, with animal fats claiming 14% and corn oil and canola oil another 10% of the input market each.
TZ/MS – 01/02/2017