Lawmakers: No New Tariffs For European Olive Oil

LAWMAKERS URGE NO NEW TARIFFS FOR EUROPEAN OLIVE OIL

(CNN) – It might not be long before you’re shelling out more for everything from olive oil to cheese, pasta, meat, fruit, even coffee.

All because of proposed tariffs on the European Union.

But it’s the olive oil that has lawmakers really worried and they’re pushing back from both sides of the aisle.

A bipartisan group of lawmakers wants the Trump administration to spare olive oil from being targeted by potential tariffs on European goods.

In a letter sent Wednesday, 19 house members asked for additional duties on olive oil from the E.U. to be reconsidered.

The tariffs are part of a 15-year dispute over subsidies on aircraft companies.

Lawmakers are specifically worried about olive oil because there’s really no sufficient alternative supply here
and we wouldn’t be able to meet current consumer demand.

Right now, the U.S. is the largest importer of olive oil and about 70% comes from the E.U.

Categories: US News