BUSINESS

US tariffs to hurt peach and can producers

DIMITRA MANIFAVA

TAGS: Economy

Exporters and farmers alike are seriously concerned about Washington’s intention to impose additional tariffs on a series of Greek products, at a time when local exports to the United States have been staging a recovery.

The biggest blow is expected to hit peach producers and can manufacturers. However, the exemption of olives (Greece’s top agricultural export to the US) and olive oil will not only spare the Greek economy a devastating blow but will also create fresh opportunities for these products as the US is threatening to impose tariffs on olive oil and olives from Spain.

According to unofficial data based on the first calculations by Greece’s exporting associations, there are 92 products in the domains Washington is considering imposing 25 percent tariffs on. In 2018 fruit exports to the US amounted to some 32 million euros.

Peach producers and can makers will be the hardest hit, as Greece’s exports of tinned peaches to the United States sometimes reach up to $50 million euros per annum, and they already incur an 18 percent tariff. Worse, the development comes at the end of the season, when manufacturers have huge quantities of the product in stock ready to be exported to the US market.

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