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The Trump administration continues to take action against malpractices in trade on countries that have taken advantage of the U.S. open market and to provide a fair opportunity to U.S. industries and workers. The traditional allies are not being spared too. Last night, the U.S. Department of Commerce under the leadership of Secretary Wilbur Ross announced preliminary countervailing duties (CVD) on imports of ‘Ripe Olives’ from Spain.
According to U.S. commerce department, exporters from Spain received countervailable subsidies of 2.31 – 7.24 percent. The ruling came in response to a petition by Coalition for Fair Trade in Ripe Olives. The commerce department has directed the United States’ customs and border protection agency to collect cash deposits from importers based on these rates.
The U.S. Commerce Secretary Wilbur Ross was quoted saying, “The U.S. values its relationships with Spain, but even friendly countries must play by the rules…..We will continue to review all information related to this preliminary determination while standing up for American workers and companies.”
In 2016, imports of ‘Ripe Olives’ from Spain were valued at an estimated $70.9 million.
The commerce department under the Trump administration initiated 77 anti-dumping and countervailing duty investigations, which is an increase by 61 percent compared to the same period in 2016.
