Mr. Chairman, today, I rise to demonstrate my strong support for this amendment, led by my colleague from New York, Mr. Gibson, to strike the olive oil price increase. This amendment is needed to stop the unnecessary increase in olive oil pricing. The unfair marketing order being considered would place heavy restrictions and burdens on the importation of olive oil. The United States is the largest importer of oil, importing approximately 97 percent of the olive oil Americans consume. The marketing order would result in tens of millions of dollars of costs for inspections a year, in turn raising the price of olive oil and making it incredibly expensive. The inspection would occur only when it is produced, not once the product enters the United States. This tax on American consumers will hinder trade and undermine our international trade relations. It is clearly a non-tariff trade barrier, which will further complicate U.S. trade and export relations with our Transatlantic partners. Just this week, the President has launched the Transatlantic Trade and Investment Partnership negotiations. This provision is against the spirit of the talks and trade with our largest trading partner. Current European Union free trade talks would be compromised, resulting in the loss of greater U.S. exports. I urge my colleagues to support this amendment to strike the olive oil price increase.
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