Business · Trade · 3 hrs ago
China will halve tariffs on Spanish olive oil from 2027
China will halve its tariff on imported olive oil from 10% to 5% starting January 1, 2027, for four years.
Spain supplies 77% of the olive oil China buys, making it the product’s leading supplier to the Chinese market.
In 2025, Spain exported extra-virgin olive oil worth 114 million dollars to China.
The tariff cut is part of a wider EU-China deal that also lowers duties on EU footwear, car parts and ice cream.
China’s olive oil imports fell 54% in 2023 as prices rose, but they have since recovered.
Imports reached 34,400 tonnes between April 2025 and March 2026, about 14,000 tonnes more than in the same period a year earlier.
Lower tariffs could make Spanish olive oil more competitive in China, though the sources give no estimate of the effect on prices or sales.
China will cut its tariff on imported olive oil from 10% to 5% from January 1, 2027, for four years.
Spain is expected to be a major beneficiary because it supplies 77% of the olive oil China buys.
Spain exported extra virgin olive oil worth $114 million, or €108.1 million, to China in 2025.
The tariff reduction is part of an agreement between China and the European Union.
Chinese olive oil imports recovered to 34,400 tonnes between April 2025 and March 2026, about 14,000 tonnes more than in the same period a year earlier.
- Who
- China and the European Union agreed to the tariff reduction. Spain is expected to benefit as China’s main olive oil supplier.
- What
- China will halve its import tariff on olive oil, from 10% to 5%.
- When
- The cut takes effect on January 1, 2027, and lasts for four years.
- Where
- China.
- Why
- The cut is part of a wider China-EU agreement on trade measures. The sources do not state a specific reason for reducing the olive oil tariff.
This story does not have two clearly opposing sides.
Chinese olive oil imports fell by 54% amid rising prices, according to Spain’s olive oil interprofessional organisation.
China imported 34,400 tonnes of olive oil, about 14,000 tonnes more than in the same period a year earlier.
China and the European Union agreed to reduce tariffs on olive oil and other products.
China’s olive oil tariff is set to fall from 10% to 5% for four years.
- China’s tariff
- 10% reduced to 5%
- Tariff period
- Four years from January 1, 2027
- Spain’s share
- 77% of China’s olive oil purchases
- Spanish exports in 2025
- $114 million, or €108.1 million, in extra virgin olive oil
- China’s imports
- 34,400 tonnes from April 2025 to March 2026
Sources
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