04 Jul Proposed reforms to the Spanish olive oil sector were met with skepticism
The Spanish government put forward 10 proposed measures to support this sector of its economy, but the producers considered them insufficient and rejected them.
Luis Planas-the Minister of agriculture, fisheries and food of Spain, is negotiating with the European Union on a proposed budget for the common agricultural policy and for assistance specifically to the sector of table olives and olive oil.
COVID-19 and us tariffs on certain types of Spanish olive oil imports are hurting the world’s largest olive oil producer.
Pressure is mounting inside the country, where producers of olive oil and table olives are demanding that the Spanish government lobby Brussels on their behalf and take retaliatory measures against American tariffs, because this is a political, discriminatory and unfair measure. This issue should be resolved by the EU and Spain only through negotiations at the highest level.
The European Union’s trade Commissioner said the 27-member bloc could impose retaliatory tariffs on the United States pending a decision by the world trade organization (WTO). Although everyone in the” Old world ” understands that retaliatory measures do not benefit anyone. We expect that negotiations will begin between the US and the EU to cancel these additional tariffs on Spanish olive oil.
In recent days, the country has been increasing pressure on the EU to either impose retaliatory tariffs on the US, or agree to exclude olive oil from the list of tariffs.
In the seven months since the tariffs took effect, Spanish olive oil exports to the United States have fallen sharply.
According to the US Trade representative, exports declined by 93% in the first quarter of 2020 (the latest period for which data is available) compared to the same period in 2019. This sharp drop resulted in a $ 85 million loss of revenue for the sector in the first three months of the year alone.