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Secretary of State for Trade Wilbur Ross says inquiries have been launched in response to a series of requests by the Olive Fair Trade Commission, made up of Bell-Carter Foods and Musco Family Olive, which claims the USA has imported amounts with margins of between 78% and 223%.
The Commission suspects either the USA is buying olives from Spain at below the market price, or Spanish producers are getting 'unfair subsidies' from the government, a practice known as 'dumping'.
If the latter turns out to be the case, the USA will levy taxes of the 'dumping' amount to compensate.
Ross says his department will 'guarantee a fair and full evaluation of the facts' and that, if competition laws have been breached, will 'act swiftly to stop any unfair trade practices'.
“The USA is committed to fair, free and reciprocal trade with Spain,” Ross insists.
Imports of mature olives from Spain last year alone came to around US$70.9 million (about €62.2m), the Department of Trade reveals.
Photograph: YouTube
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