Today, US tariffs are imposed on several European agri-food products, in retaliation for the conflict over public aid to Airbus within the framework of the World Trade Organization (WTO).
This measure will have an impact on the Spanish economy of up to 790 million euros. The Bank of Spain has estimated that the increase in tariffs on Spanish products from 3.5% to 25% will mean a decrease in sales of these products in the US economy of at least 12%, that is, some 95 million of euros.
Customs technicians, meanwhile, estimate that 700 million euros of exports will increase to almost 120 million euros. In this way, Spain will become the sixth country in the European Union that will suffer most from the new US tariffs, only behind Germany, France, the United Kingdom, Italy and Ireland.RELATED
Olive oil, one of the most affected
The Spanish products most affected by the new tariffs are olive oil, wine, olives, cheese and other dairy products, pig products, juices, spirits, molluscs and prepared or preserved fruits. These measures could mean the loss of more than 5,000 jobs in Spain.
Spain exported almost 1,844 million euros last year to the United States, the North American country being the second destination market for food and beverage exports, only behind the European Union.