Black Olives at Center of Trade Dispute With Europe

The video discusses the tariff battle involving Spanish black olives, which are a significant export for Spain. Despite not being as high-profile as other tariff-affected goods, the 35% tariff imposed by President Trump in August has severely impacted Spanish olive exports to the US, their largest market. Spain is contesting the tariffs at the WTO, but the process is lengthy. In response, a Spanish olive co-op has invested in a California company to potentially bypass tariffs by processing olives in the US.

What is the significance of black olives for Spain in the global market?

• They are mainly used for olive oil production.

• They are primarily consumed domestically in Spain.

• They account for about a quarter of the world's table olives.

• They are a minor crop with little export value.

What was the percentage drop in Spanish olive exports to the US after the tariffs?

• 55%

• 25%

• 45%

• 35%

Which organization is Spain appealing to regarding the tariffs?

• International Monetary Fund

• European Union

• World Trade Organization

• United Nations

What strategic move did a Spanish olive growing Co-op make in response to the tariffs?

• They stopped exporting to the US.

• They increased domestic production.

• They bought a stake in a California company.

• They shifted focus to Asian markets.

What was the reason behind the tariffs on Spanish olives?

• Complaints about Spanish subsidies.

• A surplus of olives in the global market.

• Spain's refusal to negotiate trade terms.

• High demand for olives in the US.