The United States Trade Representative decided not to add new tariffs to Spanish packaged and bulk olive oil imports. The USTR will revise the list once again in August.
The United States Trade Representative (USTR) has announced that it will not increase the 25 percent tariff currently in force on some packaged olive oil imports from Spain. The USTR will also not impose any new tariffs on bulk Spanish olive oil imports.
“As of this time, the Trade Representative has decided not to increase the rate of additional duties above the additional 25 percent currently being applied to non-aircraft products,” Joseph Barloon, the general counsel of the USTR, said.
After winning a ruling at the World Trade Organization (WTO) about illegal subsidies provided by several European nations to the aircraft manufacturer, Airbus, the U.S. imposed $7.5 billion of tariffs on a variety of manufacturing and agricultural goods from Spain, France, Germany and the United Kingdom.
In December, two months after the tariffs came into force, the USTR began to review the list, looking at the possibility of adding or removing some items as well as increasing the tariff burden on existing items.
In May or June, the WTO is expected to make a ruling on a similar case that has been brought by the European Union against U.S.-based aircraft manufacturer, Boeing, also for alleged illegal subsidies.
Based on the WTO’s ruling in this case, the E.U. may be allowed to impose its own tariffs on U.S. goods, which would lead the USTR to once again open up the current tariff list for revision.
“The U.S. Trade Representative has also determined that going forward, the action may be revised as appropriate immediately upon any E.U. imposition of additional duties on U.S. products in connection with the Large Civil Aircraft dispute or with the E.U.’s WTO challenge to the alleged subsidization of U.S. large civil aircraft,” Barloon said.