Spain asks for help as olive industry suffers after US tariff losses

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HURT: The olive industry has lost out due to US tariffs CREDIT: Shutterstock


SPAIN’S Commerce Minister has called on the World Trade Organisation (WTO) to help protect its olive industry after the US hiked import duties.

Reyes Maroto said Madrid had appealed to the WTO following the US’ increase of tariffs on black olives.

The goods are among those US President Donald Trump has slapped higher import taxes on as part of his protectionist economic policy. The tariffs were introduced to protect US industries and jobs but critics claim they have disrupted global trade.

Maroto said the olive tariffs had already had a big impact on the industry in Spain, particularly in Sevilla Province.

The Spanish Association of Exporters and Producers of Table Olives (Asemesa) said the sector lost €23.8 million in earnings from exports to the US from January to November last year.

2 COMMENTS

  1. The EU is the protectionist market, hence the rise in US tariffs. The good years are over for the EU protection racket, taxes will have to go up again.

  2. And say for example the US isn’t ?

    “The United States remains an independent nation, and our trade policy will be made here – not in Geneva. We will not allow the WTO Appellate Body and dispute settlement system to force the United States into a straitjacket of obligations to which we never agreed,”

    The United States has imposed tariffs on $250 billion worth of Chinese imports to press its demands for changes to what Washington sees as China’s unfair policies on intellectual property protections, technology transfers, industrial subsidies and domestic market access.

    So in practice, “Free Trade,” (I’ve heard it called American Economic Colonialism,) actually means Protectionism and tariffs to for the US but open markets for everyone else.

    It’s an amusing notion; but who benefits ?

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