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. 21, 2023
The Agronomic and Macroeconomic Forces Behind Olive Oil Prices in Italy
Despite an anticipated production rebound in Italy, prices will likely remain high. Farmers will need to adapt to a new reality.
Jun. 12, 2024
Deoleo North America CEO Says Sustainability is Key to Growing Olive Oil Sector
Thierry Moyroud views Deoleo as guardians of the industry, prioritizing quality production and sustainable practices above all else.
Oct. 16, 2023
Olive Trees on Public Land Provide Bountiful Harvest for Italian Locals
A growing number of local authorities encourage local citizens and schools to harvest abandoned olive trees on public lands.
Feb. 29, 2024
Campaign Aims to Curb Misuse of 'Regenerative' in Agriculture
With rising demand for organic olive oil, California farmers are at the forefront of efforts to promote the true meaning of organic, regenerative agriculture.
Jul. 28, 2023
Record Temperatures, Wildfires Return to Mediterranean Basin
Many Southern Europeans and thousands of tourists are coping with the consequences of some of the worst wildfires suffered by the region in recent times.
Sep. 13, 2023
California Olive Farmers Embrace Regenerative Agriculture to Combat Climate Challenges
After the initial investment, California farmers say regenerative farming practices enhance soil health, fight pests and improve oil quality.
Jan. 8, 2024
Mediterranean Diet Tops List for Seventh Year
The U.S. News & World Report cited the diet's variety, flexibility and health benefits.