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Greece: Greek olive industry feels pinch of US tariffs
Olives are one of Greece's major agricultural exports to the United States, but the sector is now bearing the brunt of increased U.S. tariffs. In an interview with China Central Television (CCTV), Nelos Georgoudis, honorary president of Panhellenic Association of Table Olives Processors, Packers and Exporters, expressed concerns over the impact of high U.S. tariffs on products of the European Union, including Greek olives. He said that some U.S. importers have asked Greek exporters to absorb part of the tariff costs, further increasing the financial strain on Greek businesses. He said while Greek exporters are actively seeking new markets, this process requires extensive research and the establishment of new sales channels and platforms, which could take years to yield results. Consequently, the losses incurred due to U.S. tariffs are unlikely to be compensated in the short term. Shotlist: Athens, Greece - Recent: 1. Various of Nelos Georgoudis, honorary president of Panhellenic Association of Table Olives Processors, Packers and Exporters, talking to reporter; 2. SOUNDBITE (English) Nelos Georgoudis, honorary president, Panhellenic Association of Table Olives Processors, Packers and Exporters (partially overlaid with shot 3): "Exports to the United States last year was 214 million euros. This amounts to about 28 percent of the total Greek exports of last year. For sure, this extraordinary tariffs will hurt the exports to the United States. Our estimates is that if this 10 percent of the tariffs are passed to the U.S. consumer, the Greek exports will, in our estimates, will go down by about 15 percent."; [SHOT OVERLAYING SOUNDBITE] FILE: Greece - Date Unknown 3. Various of Greek national flag, olive trees; [SHOT OVERLAYING SOUNDBITE] Athens, Greece - Recent 4. Olive products on table; 5. SOUNDBITE (English) Nelos Georgoudis, honorary president, Panhellenic Association of Table Olives Processors, Packers and Exporters: "For us, the producers are going to be hurt maybe longer term. The exporting companies of course they will be hurt short term because they are the ones that are supporting right now. And of course, the trade with the United States is going to be down because the prices, at some stage, the price increases will be passed to U.S. consumers."; FILE: Greece - Date Unknown 6. Various of olive trees. [Restriction - No access Chinese mainland]
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