Thursday, June 20, 2024

Trump to impose tariffs on Greek and Italian olives and olive oils; to “destroy” Spain

Trump administration prepares the imposition of tariffs on all European olive oils and olives.

According to a decision announced on Friday night, the Trump administration is expanding the tariffs imposed on a number of European products, including olive oils (regardless of their origin, whether it is Greece, Italy, Portugal, France or Cyprus…); the same applies for olives.

The consultation will be open up until the 13th of January 2020, when the final decision will be taken. This decision follows the heightened trade war between the U.S.A. and Europe for the BOEING – AIRBUS aircrafts, within the boundaries of WTO.

Furthermore, it has been clarified that the tariffs imposed to the Spanish olive oils exported to the U.S.A., even if they are just included in a mixture (by analogy) in packaged olive oils from other countries, that were excluded from the tariffs (Italy, Portugal, Greece, Tunisia and more). That is, that based on the obligations to declare the origin of all packaged olive oils, they will have to declare its’ traceability. Therefore, all companies exporting packaged olive oils to the U.S.A., will have to declare at the U.S. customs authorities, in which analogy Spanish olive oils are included within and therefore paying and the proportional duty.

With the above-mentioned clarification, it becomes apparent that the tariffs will become unbearable and will affect not only directly the whole of the Spanish exports of 150.000 tons, meaning 50% of American imports, but also indirectly through the other countries that use Spanish raw materials in their mixtures.

Furthermore, European trade will be affected as well, as a big portion of the Italian olive oils includes Spanish raw materials.

Hard times for the European olive sector as the new climate emerges.


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