We’ve certainly come a long way from the days when olives symbolized peace and wisdom in ancient Greece, now finding ourselves tangled in a modern-day trade dispute over them.

Background:
2018: US imposes anti-subsidy duties on Spanish olives.
2021: WTO rules these duties violate WTO agreements.
2023: EU requests compliance panel to review US implementation efforts.

Summary:
EU wins challenge: The WTO ruled in favor of the EU, finding that the US failed to comply with a previous ruling by not changing its law (Section 771B) used to impose anti-subsidy duties on Spanish olives.

Impact on Spain: This law unfairly disadvantages Spanish exports, reducing them from 76% to 26% of the US market since 2017.

Next step(s): The EU can request the WTO to formally adopt the ruling, making it binding on the US. The US then needs to remove the duties immediately.

link: https://lnkd.in/dWnDW5X5