US tariffs might affect Spanish olive export to the market

Spain is one of the major olive producers worldwide which is facing a decline imports from the US. Due to the mandated tariffs on olive products, exports in 2020 are getting lower, and higher prices are not helping either. The price of olives has already stood higher in early 2021. Spain is also reducing the supply of olives in May 2020. Meanwhile, the prices on the Spanish domestic market show constant rate throughout January to April 2021. Since the taxes make olives more expensive, Spain hopes the US can lower its tariffs so the product can compete in the market.