03 Apr Europe and the US agree to freeze tariffs for four months
The United States and the European Union have agreed to suspend retaliatory tariffs worth $11.5 billion. (9.65 billion euros), mutually imposed during the ongoing dispute over subsidies to aircraft manufacturers Boeing and Airbus.
The 25 percent tariff imposed by the United States in the person of Donald Trump on some Spanish olive oils, as well as Spanish and French green table olives, will be canceled by Joe Biden.
For Spanish producers, a new scenario opens up, at least in the next four months, they will have to work hard to increase exports and restore lost positions. This is great news for business and industry on both sides of the Atlantic and a very positive signal for economic cooperation in the coming years.
The news was eagerly welcomed throughout the Spanish olive oil sector, which recently reported an 80 percent decline in sales of bottled olive oil in the United States. Exports of table olives from Spain to the United States, unfortunately, fell by 30% in the first half of 2020 compared to 2019.