News Briefs
The United States Trade Representative (USTR) is reviewing existing tariffs and considering whether or not to impose new ones on goods imported from the European Union.
In October 2019, the World Trade Organization (WTO) gave the U.S. the right to impose $7.5 billion worth of tariffs on imports from the E.U., as a result of illegal subsidies provided by the trading bloc to the aircraft manufacturer Airbus.
Individually packaged olive oil imports from Spain and table olive imports from both France and Spain currently face a 25 percent tariff.
In a notice published last week, the USTR said these existing import duties could be raised from their current level up to 100 percent.
Additionally, the USTR is considering whether to impose tariffs on table olives and bulk and packaged olive oils from the rest of the trading bloc, which includes Italy, Portugal, Greece, Croatia and Slovenia.
U.S. officials explained that tariffs on these countries had previously been considered and were now once again under consideration.
The total package of tariffs that the USTR is now considering is worth $3.1 billion and would cover a range of other goods, including liquors, cheese, pork, pastries, cakes, hardware and clothes.
While the USTR periodically reviews its list of current tariffs, this announcement comes right after the E.U. published its own list of potential tariffs on U.S. goods.
The trading bloc is awaiting a ruling from the WTO on whether or not it can implement these tariffs as a result of alleged illegal subsidies provided to the American aircraft manufacturer, Boeing.
The WTO was expected to rule on the issue earlier this month, but delayed its decision until at least September, citing health concerns around the Covid-19 pandemic.
E.U. officials immediately expressed their disappointment at the USTR’s announcement and have filed a formal complaint with the WTO about its decision to delay the ruling.
The E.U. has long said it would rather negotiate an end to the tariffs than impose its own. However, observers doubt that an agreement could be reached before the WTO decision is announced.
More articles on: European Union, import/export, tariffs
Feb. 20, 2024
New Research Rekindles Debate on Nutri-Score’s Effectiveness
The OECD found Nutri-Score could save money on healthcare. Dutch researchers questioned the integrity of studies supporting the labeling system.
Nov. 20, 2023
Finding Balance in a Changing Sector Yields Success for Portuguese Exporter
Quality serves as Est. Manuel Silva Torrado’s north star as the company navigates export markets and the country’s rapidly changing sector.
Jul. 31, 2023
Concerns Mount Over Olive Oil Shortage in Spain
With olive oil stocks expected to run out by the start of the coming harvest and predictions of another low yield, experts anticipate prices to continue rising.
Dec. 5, 2023
An Olive Oil-Centered Curriculum in California Seeks to Help an Ailing County
Despite its agricultural mite, Kern County suffers from elevated levels of food insecurity, obesity and diabetes compared to the rest of the state.
Nov. 6, 2023
Olive Oil Production in Europe Expected to Reach 1.5M Tons in 2023/24
Yields are expected to rebound after last year's historic lows. However, rising prices will hamper exports and consumption.
Apr. 10, 2024
Farmers Protest European Agricultural Policies in Madrid
The protestors demand exceptions for European environmental regulations that they argue make their products less competitive on the global market.
Jun. 10, 2024
U.S. Sees Significant Growth in Organic Olive Oil Sales
In the past two years, organic olive oil sales in the U.S. have increased by ten percent while conventional extra virgin olive oil sales slipped.
Aug. 14, 2023
State-of-the-Art Irrigation Management Leads to Rising Yields in California
To endure a changing climate, new approaches for managing and optimizing irrigation are paramount.