Excellent news for the Iberian agri-food and table olive sector following the entry into force of the temporary suspension of U.S. tariffs.
The table olive sector has welcomed with relief the temporary withdrawal of tariffs on Spanish agri-food products. The EU and the US have agreed to suspend these tariffs for an initial period of four months, while working towards a permanent solution.
The tariffs imposed by the Trump administration penalized products such as table olives, olive oil, wine, citrus fruits and cheeses from Spain, France, Germany and the United Kingdom.
During that time Greece and Italy have not had such tariffs and this has led to unfair competition. The United States is one of the main export markets. With a tax that has caused a significant drop in Spanish exports.
Green olives have been subject to tariffs of 25% since 2019 as a result of the trade conflict between the United States and the European Union.