`Greek Olive Oil Gets New Exemption From US Tariffs

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Greek Olive Oil Gets New Exemption From US Tariffs

Feb. 19, 2020
Costas Vasilopoulos

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The United States Trade Rep­re­sen­ta­tive extended the exemp­tion sta­tus of Greek olive oil from tar­iffs imposed on imported E.U. agri­cul­tural prod­ucts after it was first excluded from the sanc­tions regime in Octo­ber 2019.

The revised list of E.U. prod­ucts under sanc­tions also excludes other Greek prod­ucts from import taxes, like cheese, wine, plum juice, and more olive-related prod­ucts.

This is an impor­tant devel­op­ment, where the Prime Min­is­ter was per­son­ally involved,” Makis Vorides, the min­is­ter of agri­cul­ture, said.

Sources at the Greek Min­istry of For­eign Affairs said in turn that the exemp­tion was the result of coor­di­nated efforts by sev­eral min­is­ters and came after bilat­eral nego­ti­a­tions between the Greek Gov­ern­ment and the U.S. Admin­is­tra­tion.

The Greek agri-food sec­tor has been dis­pro­por­tion­ately hit by the trade war between the United States and the Euro­pean Union, the spokesper­son said, and Greece is look­ing to cre­ate a pos­i­tive trad­ing frame­work with the U.S. to mit­i­gate the con­se­quences on the sec­tor.

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