Trump’s statements, in which he erroneously included Spain in the BRICS group and threatened to impose 100% tariffs on Spanish products, have generated concern in various economic sectors.
Although this statement lacks foundation, since Spain is not part of the BRICs, the possible tariff measures could have significant implications for the Spanish economy.
Impact of bilateral trade between Spain and the US
The commercial relationship between Spain and the United States has been historically solid. In recent years, Spanish exports to the US have included key products such as refined oil, olive oil, medications and wine, while imports from the United States have been dominated by gas, crude oil, medications and motor vehicles .
However, The trade balance continues to favor the United States, which underlines Spain’s dependence towards this marketespecially in strategic sectors that can be affected by changes in US commercial policies.
What if Trump decides to apply tariffs and commercial barriers?
Will Spain suffer the ´Ira tariff ‘of the new president of the United States? The impact of this possible imposition of tariffs would extend, which doubts, to multiple sectors.
In it agri -food sectorproducts such as olive oil and wine could become less competitive in the US market due to price increase.
The Footwear industrywith Alicante as one of its main exponents, it would also face significant challenges if commercial barriers harden. Likewise, semi -communication and team goods, which include chemicals and technical goods, They could experience a decrease in their exports, directly affecting regions such as the Valencian Community, Madrid and the Basque Country.
The Spanish economic dependence is not limited to these sectors, but also covers the energy, with a considerable part of crude gas and oil from the United States, and The pharmaceutical industry, which plays a fundamental role in bilateral trade.
So how to reduce economic dependence?
Commercial tensions between the United States and the European Union are not new. During Trump’s first mandate, The imposed protectionist policies significantly affected the European economy. Although the Biden administration tried to strengthen transatlantic ties, Trump’s return to power could rekindle commercial frictions.
The European Union has shown that it is willing to respond with similar measures when commercial restrictions have been imposed, as in the case of the Spanish black olive, evidencing the volatility of these relations.
To mitigate the effects of these protectionist policies, Spain could adopt several strategies. Explore new commercial relations with other countries and regions – such as China – would facilitate market diversification and reduce the associated risks to the dependence of the US market.
The promotion of innovation investment would improve the competitiveness of Spanish products, increasing their attractiveness in the global market and reducing the need to depend exclusively on exports to the United States.
In addition, the signing of bilateral or multilateral trade agreements could provide additional support for ensure better conditions for Spanish exports.
The impact of American commercial policy on the Spanish economy highlights a thing: the interconnection of global trade and the importance of adapting to a constantly evolving economic environment.
The dependence of certain sectors with respect to the United States highlights the need for a strategic approach that allows possible the possible risks and strengthening the position of Spain in the global economy.
Before a commercial panorama where relations can be affected by political decisions, the ability to adapt the countries will be crucial in 2025 and from now on to guarantee long -term economic stability and growth.
In addition, it is essential that Spain strengthen its economic resilience through the diversification of its commercial partners. Investment in logistics infrastructure and impulse to emerging sectors such as digitalization and renewable energies can position Spain on a less dependent scenario on imports and exports with the United States.
Of course, cooperation with the European Union and other strategic partners plays a key role to ensure a firm position in global trade and minimize negative impacts derived from US political decisions.