tariffs

World economy 14th April 2025

Trump’s tariffs provoke provision of China’s trading partners and raise trade surplus in March

Bankinter| The Trade Balance shows an increase in the surplus in March to $102.64 billion from $31.72 billion previously and $75.15 billion estimated. This evolution is due to the acceleration of Exports (up 12.4% from -3.0% previously and +4.6% estimated) and the contraction of Imports (down 4.3% from +1.5% previously and -2.1% previously). Analysis team opinion: More solid data than estimated. However, it is a one-off improvement. Uncertainty over the…

In the World 9th April 2025

Japan may get priority in negotiations with US

Banca March | Japan will receive a ‘reciprocal’ tariff of 24%, in addition to the 25% already implemented on cars. As Prime Minister Shigeru Ishiba pointed out, the automotive industry is a ‘pillar’ of its economy. In an effort to ease tensions, Ishiba and Trump spoke on the phone, reflecting Japan’s willingness to seek an agreement. Scott Besset, US Treasury Secretary, expressed his expectation that Japan would be treated as…

Spanish economy 9th April 2025

Government estimates €15 billion in exports to US – 80% – to be affected by tariffs

Spain is not among the countries most directly exposed to Donald Trump’s tariff onslaught, but even so, 80% of its exports to the United States will be compromised by the trade war that the White House has declared on the rest of the world. To this must be added the indirect impact from the damage suffered by other partners and the changes that occur in global value chains. Spain is…

The first part of US tariffs on Chinese imports will proceed as of 6 July

In the World 8th April 2025

Trump’s Tariffs Raise Average Rate from 2.5% to 24% in Three Months

Banca March | In less than 100 days, Trump has imposed the highest tariffs of the last 100 years, increasing the average rate from 2.5% to 24%. Last Wednesday night, he announced a base global tariff of 10%, which came into effect on Saturday. For those countries with a trade deficit, a higher rate applies, which will begin next April 9th. This is the case for the EU, which from…

In the World 8th April 2025

China strikes back: 34% tariff on all imports from US

BancaMarch | China has already responded forcefully, with a 34% tariff on all imports from the US, to be applied from 10 April. In addition, it has introduced restrictions on the export of certain rare earths to the US. Other countries have not yet stated their response. Within the European Union (EU), member states such as France and Germany are taking a belligerent stance, while Italy is considering working towards…

In the World 31st March 2025

Trump imposes 25% tariffs on all imports of cars not manufactured in US, to come into force on 3 April

Bankinter | The measures will come into force on 3 April for all cars not manufactured in the United States. Trump also added that the tariffs would also affect car components, and that these would come into force by 3 May at the latest. He also stated that the tariffs would be permanent in nature and without exceptions. Bankinter analysis team’s view: Bad news for the sector in general. Currently,…

In the World 26th March 2025

Spain threatened by possible 25% tariff on countries importing oil or gas from Venezuela, directly or through third parties

Bankinter US President Donald Trump has announced the possibility of a 25% tariff on any country that imports oil or gas from Venezuela, either directly or through third parties. Trump announced this measure, dubbed a ‘secondary tariff’ for ‘sending tens of thousands of criminals to the US’, which was later confirmed by executive order. Although it is due to come into force on 2 April, its application will not be…

Interviews 18th March 2025

“We need to approach negotiations with the U.S. on terms that are completely different from those currently being proposed”

Says Antonio Bonet, president of the Club of Spanish Exporters and Investors. He points out that “Europe has a single tariff applied by all member states, but the U.S. applies a tariff to each country, meaning it can decide that the tariff applied to Spanish black olives is higher than that for Italian olives, as it did at one point. So there is a part of the negotiation between Europe…

In Spain 14th March 2025

Trump’s 200% tariff on wine and cava threatens €334 million in Spanish exports

Spanish wine, like European wine, is trembling. Donald Trump has decided to include it in the trade war that the United States is waging with the world and has threatened to impose a 200% tariff on them. This effectively means expelling Spanish wines from the U.S. market, a wine war that would particularly affect Catalan cavas and the wineries of Rioja and Ribera del Duero. This is indicated by the…

In the World 11th March 2025

US tariffs on aluminium and steel to come into force this Wednesday

BancaMarch | On Wednesday, tariffs on aluminium and steel will come into force, with Canada, Brazil, the EU and Mexico being the most affected regions. However, it should be noted that in March 2018, when tariffs were applied to these same goods – 25% on steel and 10% on aluminium – productive agreements were reached in some cases. More specifically, the tariffs imposed on Mexico and Canada were withdrawn a…

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