Greek olive oil producer Konstantinos Papadopoulos wasted no time when President Donald Trump threatened to impose U.S. tariffs in the spring. He immediately began looking for alternative buyers around the world, Reuters reported, BTA reported.
Within weeks, his family-owned company had found a new buyer in Brazil, where Portuguese olive oil usually dominates. His first shipment of 15,000 bottles is expected to arrive at the port of Itapoa in two weeks.
When Reuters visited his production facility on Friday, Papadopoulos was close to closing another deal with a new client in Australia.
"I think we learned a lesson from Trump not to throw all our energy into one market... and to always have alternatives," Papadopoulos said at his olive oil factory, surrounded by thousands of bottles and huge tanks filled with the golden liquid.
Trump has announced a 30 percent tariff on European products, shaking up everything from wine to peaches to cars. Papadopoulos’ decision shows how far-reaching the consequences can be, as producers react even to threats of tariffs.
Greece, the fifth-largest exporter of olive oil to the United States, ships about 8,000 to 10,000 tons a year. Three of the other largest producers, Spain, Italy and Portugal, are in Europe and face the same conundrum.
The industry is huge for Greece, whose hills are dotted with groves of ancient olive trees, Reuters noted.
In 2024, the Papadopoulos family-owned company exported 350 tons of extra virgin olive oil to the United States, about a third of its total exports, and this year it exported 100 tons. He estimates that if Trump's tariff goes through, sales to the U.S. will fall by about 40 percent this year.
"While we had built up our entire infrastructure based largely on the U.S. market, suddenly we see it disappearing," said Konstantinos Papadopoulos.