Food And Beverage Exports To The US Increase 34.8% Since The Suspension Of Tariffs
Food and beverage exports to the US increased 34.8%
Exports of food and beverages to the United States increased by 34.8% since the suspension of tariffs, as reported this Friday by the Spanish Federation of Food and Beverage Industries (FIAB).
Specifically, during the period between March and June of this year, exports of the 113 categories of food and beverages previously affected by the dispute between the European Union and the United States over the issue of civil aircraft increased by 34.8% compared to the immediately previous four-month cycle, reaching 416 million euros.
The FIAB has celebrated that exports to this country have begun their recovery after the agreement to suspend tariffs for five years reached in the framework of the European Union-United States Summit last June.
The United States, whose exports in 2020 reached 1,885 million euros, is the fifth destination for external sales of the food and beverage industry and the second non-EU commercial partner, behind China.
Overall, during the first half of this year, exports amounted to 1,106 million euros, experiencing an increase of 21.42% compared to the same period in 2020, which represents the highest growth in Spanish sales to this country in the last five years.
“We welcome this improvement in the data on our exports to the United States with hope. The suspension of tariffs for five years, which we hope will become definitive within the new transatlantic cooperation framework, is an opportunity for our companies to consolidate their position. and regain a presence in a fundamental destination “, highlighted the general director of FIAB, Mauricio García de Quevedo.
“From the Federation we are working to help Spanish companies to continue being active in this market, carrying out actions in the field of international promotion and representing and defending the interests of the industry in different forums”, he added.
However, the FIAB has clarified that it cannot be forgotten that other open commercial conflicts affect the food and beverage industry, such as the 35% tariffs applied to black table olives.