Economic Impact of Trump Tariffs on Spain: What to Expect
Trump's new tariffs are set to affect Spain's economy, though its exposure is less than other EU nations.
Key Points
- • Spanish exports to the U.S. account for 1% of GDP; imports account for 1.7%.
- • Spain's trade with the U.S. is more service-oriented compared to the Eurozone's goods-oriented trade.
- • Under a worst-case scenario, Spain's GDP could contract by 3.36% due to tariffs.
- • Key sectors affected include agro-food and automotive, particularly in regions like Andalusia and Valencia.
On August 7, 2025, President Donald Trump rolled out new tariffs impacting nearly 70 countries, including Spain, marking a significant shift in international trade relations. The newly implemented tariffs, which can escalate to as much as 41% on certain goods, govern not only exports but also the financial dynamics between the United States and its trading partners.