According to projections from the Spanish Chamber of Commerce, the fastest growth economy in Europe is expected to undergo losses up to 4.3 billion euros due to Trump’s prices this year.
The agro-food sector should be the most affected: exports of domestic olive oil, which currently bring about 1 billion euros from American consumers, could refuse strongly, and the country’s wine sector could be devastated if Trump is threatening to respond to the prices of the EU reprisals on Bourbon with a 200% lips on wines and spirituits.
While the Spanish automotive sector barely exports cars in the United States, it should be indirectly affected by the 25% tariffs announced by Washington last week because the country remains a manufacturer of mechanical components. Spain exported electrical machines and equipment worth more than 4 billion euros in the United States in 2024.
Sánchez stressed that the labor laws of his government will be used to protect workers from the sectors affected by what he described as an “unprecedented” and “unilateral” attack in the United States
He also rejected Trump’s assertion that the samples are “reciprocal”, describing them rather as “an excuse to punish countries, apply sterile protectionism and increase income to try to mitigate a deficit caused by a questionable budgetary policy.”
Politices
