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Spain Says US Should Waive Tariffs On EU Goods As Wine, Olives Hit

Published on Aug 14 2020 9:39 AM in Supply Chain tagged: Trending Posts / Wine / Spain / EU / olives / World Trade Organisation / US Tariffs / World News

Spain Says US Should Waive Tariffs On EU Goods As Wine, Olives Hit

The United States should waive tariffs imposed on European Union goods because the bloc abides by all World Trade Organisation rules on planemaker Airbus, Spain's trade minister has said.

The Spanish government rejects a US decision to maintain tariffs imposed on EU goods, minister Reyes Maroto said, speaking a day after Washington decided to keep 15% tariffs on Airbus aircraft and 25% tariffs on other European goods.

Spanish agricultural exports such as wine and olive oil are among the hardest hit by the US tariffs.

Washington took its action despite moves by the EU to resolve a 16-year-old dispute over aircraft subsidies.

Retaliatory Measures

The US should seek a solution to the conflict, Maroto added, as that would prevent the EU from imposing its own retaliatory measures as part of a symmetrical dispute over subsidies to US plane maker Boeing Co.

Spanish agriculture minister Luis Planas said retaliating on agriculture was a "strategic error" as the industry needs stability.

The Spanish association of wine makers urged Europe and the United States on Thursday to resume negotiations as exports to the US, the second-largest market for Spanish wines, have lost between a fifth and a third of their monthly value.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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