- Title: In Spain, Trump's tariffs to bite olive oil sector worst - farmers association
- Date: 3rd October 2019
- Summary: EL BURGO, SPAIN (FILE - APRIL 2019) (REUTERS) VARIOUS OF OLIVE FARMER DRIVING TRACTOR THROUGH OLIVE GROVE VARIOUS OF FARMER CUTTING OLIVE TREES OLIVE BRANCH
- Embargoed: 17th October 2019 14:59
- Keywords: tariffs Spanish wine Spanish food Iberian ham U.S. tarrifs olive oil agricultural products European Union United States
- Location: MADRID, EL BURGO & GUIJUELO, SPAIN
- City: MADRID, EL BURGO & GUIJUELO, SPAIN
- Country: Spain
- Topics: Economic Events
- Reuters ID: LVA001AZJMWCN
- Aspect Ratio: 16:9
- Story Text: U.S. tariffs on European Union products would affect around 1 billion euros ($1.10 billion) of Spanish agricultural products per year, Spanish agricultural association COAG said on Thursday (October 3), adding that the olive sector would be Spain's worst hit sector.
The United States is the biggest market outside the European Union for Spanish agricultural exports such as wine, oil, cheese and olives - all of which are likely to be affected by the tariffs, the association said.
Spain's exports over 400 million euros worth of olive oil to the U.S, Spain's ministry of industry and commerce figures say.
A 25 percent tariff would simply price Spain out of the market, said Rafael Pico Lapuente, director general of the Spanish Olive Oil Export Association.
(Production: Juan Antonio Dominguez, Jon Nazca, Michael Gore, Catherine Macdonald)
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