Spanish Prime Minister Pedro Sánchez has sharply criticized the US tariff policy, saying that the imposed trade duties on Spanish exports are "doubly unfair". According to him, Spain fixes a trade deficit with the United States, which makes such measures economically and politically unjustified.
Sanchez's comments came amid heightened trade tensions between Washington and European Union countries. On July 9, increased US tariffs of up to 50% on a number of European goods, including Spanish — made products, may come into force. The Spanish Government is making diplomatic efforts to avoid the new restrictions coming into force.
An additional source of tension was Spain's decision not to support the updated NATO defense spending target. At the alliance summit in The Hague, members of the bloc agreed to raise the minimum level of defense spending to 5% of GDP. Sanchez said that Spain is ready to increase the budget to 2.1%, but no more. The position drew criticism from the alliance's partners and led to a sharp reaction from former US President Donald Trump, who threatened to impose trade restrictions against Madrid.
Spain, which is showing economic growth rates that are faster than the average for the euro zone, is trying to maintain access to the US market without additional tariff barriers. The country's authorities insist on the need for a balanced approach in trade relations and emphasize that they bear disproportionate economic pressure in conditions when Spain itself is not a net exporter to the United States.
