The WTO determines that the US did not sufficiently reduce tariffs on Spanish olives

Published 2024년 2월 20일

Tridge summary

A World Trade Organization (WTO) panel has ruled that the US did not correctly implement a decision to reduce tariffs on Spanish black olives, a dispute that began in 2019. The US reduced tariffs from 35% to 31% in 2023, which the EU deemed insufficient. The US can appeal, but the WTO's Appellate Body is currently unable to process appeals due to a lack of judges. The Spanish Association of Table Olive Exporters and Industrialists (Asemesa) expects compensatory tariffs for the costs assumed by the sector and has hailed the ruling as a 'total victory.'

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

A special group of the World Trade Organization (WTO) ruled this Tuesday that the United States did not correctly apply a decision of the organization that required it to reduce tariffs on Spanish black olives, once again proving the European Union right in a conflict that It dates back to 2019. The US did not implement the resolution favorable to Spain and the EU made by another panel in 2021, so it continues not to comply with the provisions of the General Agreement on Tariffs and Trade of 1994 and the Agreement on Subsidies and Countervailing Measures of the organization, indicated sources close to the WTO. In January 2023, the US International Trade Administration reduced but only partially its tariffs on Spanish black olives, which for practical purposes fell from the previous 35% to 31%, something that the EU considers insufficient. Today's ruling agrees with the European Union that the decisions taken by the US then were based on analyzes that did not pertinently apply the ...

Source: PEefeagro