Spain asks for help as olive industry suffers after US tariff losses

SPAIN’S Commerce Minister has called on the World Trade Organisation (WTO) to help protect its olive industry after the US hiked import duties.

Reyes Maroto said Madrid had appealed to the WTO following the US’ increase of tariffs on black olives.

The goods are among those US President Donald Trump has slapped higher import taxes on as part of his protectionist economic policy. The tariffs were introduced to protect US industries and jobs but critics claim they have disrupted global trade.

Maroto said the olive tariffs had already had a big impact on the industry in Spain, particularly in Sevilla Province.

The Spanish Association of Exporters and Producers of Table Olives (Asemesa) said the sector lost €23.8 million in earnings from exports to the US from January to November last year.