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.
Related Articles
Dec. 13, 2023
An Olive Harvest Under Bombardment in Southern Lebanon
The conflict between Israel and Hamas has drawn in Hezbollah militants from Lebanon, threatening olive farmers and their livelihoods.
Feb. 23, 2024
World Trade Organization Finds U.S. Noncompliant in Table Olive Trade Spat
The WTO ruled that the U.S. must remove tariffs on Spanish table olive imports, while a separate case is pending in the Court of Appeals.
Mar. 13, 2024
How an Olive Oil Lover Found Success in The US Market
After discovering her passion for extra virgin olive oil in Crete, Joanne Lacina built a successful importing and online retail business in the U.S.
Jan. 2, 2024
Extra Virgin Olive Oil Sales in Spain Fell by 40 Percent in 2023
The soaring retail price for extra virgin olive oil has driven the vital ingredient out of the reach of many families.
Jun. 12, 2024
Turkey Eases Export Ban Following Intense Lobbying
Turkish producers will be able to export 50,000 tons of bulk olive oil until November. With forecasts of bumper harvest, the sector wants the ban lifted completely.
Feb. 1, 2024
Olive Oil Metabolites Linked with Improved Cardiovascular Disease Outcomes
The research demonstrated a link between virgin olive oil metabolite profiles and reduced risk of cardiovascular disease, but not diabetes.
May. 7, 2024
European Olive Oil Supply Hits Decade-Low
A production drop and low stocks have kept prices high, tempering demand.
May. 23, 2024
Historic Flooding in Southern Brazil Spares Groves, Mills
Producers are struggling in the aftermath of the worst flooding in Rio Grande do Sul’s history. While mills and groves were largely spared, sales have been severely impacted.