Spanish olive oil exports to USA soar as Biden lifts Trump's trade barriers
Wednesday, August 18, 2021 @ 2:39 PM
Customs duties levied on Spain's olive oil exporters by former US president Donald Trump have been lifted by new leader Joe Biden – and business between the two countries has soared.
In the first six months of this year, olive oil exports from Spain shot up by 37.5%, to 57,402 tonnes, valued at €152 million.
Spanish olive-farmers largely had to close the door on their North American market when Trump imposed trade barriers that made it unprofitable to sell across the pond, but they have now recovered a large chunk of that market since Biden took up office.
Up to and including June 2020, Spanish trade accounted for 27.66% of olive oil sales in the United States, ahead of Tunisia, which had been the second-largest supplier in 2020 after the domestic market.
Now, Spain's oil is the second-most frequently sold in the USA after the home-produced varieties.
Spanish exporters were the number one supplier until Trump imposed customs fees, claiming the Mediterranean country supposed unfair competition to olive-growers in California.
Read more at thinkSPAIN.com