La Cámara de Comercio de España warns that the trade uncertainty It has become established as the main risk factor for exports in 2026. Following the cancellation of global tariffs by the IEEPA by Tribunal Supremo de EE. UU. On February 20, the US administration reacted by imposing new temporary tariffs under the Sección 122 de la Trade Act de 1974creating a scenario of high legal uncertainty.
Impact on Spanish foreign trade
The year-end data for 2025 reveals a significant deterioration in the bilateral relationship. Sales of Spanish goods to the US market fell by 8%, while trade deficit grew alarmingly. This context is framed within a fragmented global environment where companies, especially those SMEsThey face an increasing administrative burden in logistics and tariff classification.
| Trade Indicator (Closing 2025) | Variation / Value |
|---|---|
| Spanish exports to EE. UU. | -8% |
| Spain's bilateral trade deficit | + 34,4 % |
| Reference tariff rate (Aug-2025 Framework) | 15 % |
| World trade growth forecast 2026 (OMC) | 0,5 % |
The EU-US framework and its exceptions
The scheme agreed in August 2025 established a reference rate of 15 % for most European goods. However, the Comisión Europea maintains a firm stance under the premise "A deal is a deal"demanding Washington Clarity and compliance with agreed limits to prevent European products from losing competitiveness.
- Agri-food Products: Wine and olive oil are subject to the 15% tax, increasing access costs compared to previous years.
- Raw Materials: Tariffs of 50% remain in place for steel, aluminum, and copper.
- Exceptions (NMF/MFN): Aircraft, generic medicines, and natural resources such as cork maintain minimal tariffs.
- EU commitments: Europe has avoided raising barriers and has committed to increasing purchases of GNL and US weaponry.
Prospects for 2026
Although global trade showed resilience in 2025 with 2,4% growth driven by the Inteligencia Artificial, the OMC has drastically lowered its forecasts for 2026. Cámara de Comercio de España It emphasizes that stability and respect for the rules of international trade are essential for business planning and long-term investment.
Key points and frequently asked questions about the tariff situation
What is the current tariff for Spanish products in the US?
The general reference type is of 15 %However, following the recent ruling of February 20, the US administration has applied temporary tariffs under the Section 122 that generate volatility in their implementation.
Which products are exempt from tariff surcharges?
The main exceptions that return to the tariff of Most Favored Nation (MFN) These include aircraft and their components, generic medicines, active ingredients, and unavailable natural resources such as cork.
How does this situation affect Spain's trade balance?
The situation is unfavorable: in the last year exports have fallen by 8% and dependence on US imports has caused Spain's trade deficit with the US to increase. EE. UU. increased by 34,4%.
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