Impact of tariff hikes on Spanish exports to the US: which sectors
As we have seen in the previous article, Spain''s exposure to the United States is relatively low overall, although there are significant disparities between sectors. The tariffs
Spain's strategic position as a gateway to European markets has been substantially impacted by the new US tariff regime, which introduced baseline tariffs of 10% on most European Union goods, with specific provisions affecting Spanish exporters across multiple sectors.
Catalonia, a stronghold of Spain's chemical industry, could also face challenges. With chemicals comprising a large share of exports, increased tariffs would directly affect this sector. In 2019, during Trump's previous term, the US imposed 25% tariffs on European agricultural products, including Spanish olive oil, wine, and cheese.
The overall tariff structure reflects Spain's position within the European Union's Common Customs Tariff framework, which maintains competitive rates for most trading relationships while adapting to new bilateral arrangements. For US products entering Spain, tariff rates average 3-5%, demonstrating Spain's traditionally open trade policy stance.
Spain's food sector, representing 17.5% of total exports, faces significant risks. Andalucia and Catalonia are the leading regions exporting food products to the US. Olive oil sales, in particular, are vulnerable, as previous US tariffs already impacted this sector in 2019.
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