US President warned Europe that it plans to bring 25% tariff to all its products of the European Union as of April 2nd. What impact on the Spanish economy?
. Protectionist strategy US President, Donald TrumpAmong the fears of a possible transatlantic commercial war, he was afraid of European and Western allies. In February, US President announced that it will apply 25% tariff to all products from all commercial partners that taxed the European Union and US products.
“Other countries They have used tariffs against us for decades And now the turn of them to start using them against other countries (…) This is happening for friends and enemies. The system is not fair to the United States, “the Republican President said.
Despite Spain increased its commercial deficit to 10,000 million euros with the USA According to the data obtained from the Ministry of Economy, in 2024, Spanish companies exported approximately 18,179 million goods and services to transatlantic partners. Now, the large Spanish exporters of the products Olive oil And Steel is breathing in the face of the possibility of having to look for alternative markets.
According to economist Fran Simón, Trump’s customs rates may have a major impact on large Spanish companies. “There are Spanish companies Billions of euros in the United StatesEspecially in relation to oil and construction companies, it may be directly affected by the ‘Euronews’ and the Spanish oil industry is important.
Sánchez: “It is time to protect Europe and to answer firmly”
President of the Spanish Government, Pedro SánchezDuring a speech on the delivery of the Xi Cepyme Awards, Trump sewed faces this week. “It is clear that the time to protect Europe and the EU is more powerful than we often believe, dedi he said 27 blocks were” a global power “.
“We have the ability to defend our interests We attack us with unfair tariffs or threats to our sovereignty (…) and we will do this With all the strength and solidarity of a united Europe; Dialogue, coordination and cooperation in the defense of a multilateral international trade with the same belief that allows us to hand in hand. ”
However, economist Fran Simón does not think that the dispute between the US and his allies will reach a commercial war. “Nobody is interested in a commercial war, they all lose,” he draws attention and emphasizes it Spain is also a great market for the United States “. However, according to Simon, the impact of new rates for the Spanish economy will barely reflect on the Spanish GDP.
United States Sixth Objective of Spanish exports According to the figures from the Chamber of Commerce, the second of the extra public countries after the UK. The main market for Spanish companies continues to be the European Union. “Right now, Exports to the United States represents approximately 2.3% of GDP GDP Spanish (compared to 4.6% for the EU), “says the Chamber of Commerce in a press release in February.
Other European partners such as Italy, Germany or France, especially the US President, may be exposed to Trump’s protectionist policies if he continues with the tariffs he plans to impose. To the car industryIt will affect Germany or pharmaceutical products, which will have a great impact on the Denmark economy.
Can Avoid EU Trump’s tariffs?
Latest tensions are added An existing commercial dispute This is based on the first period when Donald Trump applied tariffs to the old continent. In 2017, US officials applied customs rates to black olives in Spain, which led Brussels to force measures from the World Trade Organization (WTO). Legal War resulted in a sentence In November 2021, he determined that Washington had violated DTO standards.
White House Tenant This Week The second time decided to postpone tariffs After having negotiations with their leaders Claudia Sheinbaum and Justin Trudeau for many imports from Mexico and some of Canada. Trump used customs rates as a currency to stop irregular migration and smuggling of Fentanyl from Mexico.
It is seen which decision to make the US president on the tariffs he plans to impose on the European Union, but Brussels undoubtedly A complete commercial war.
