SPAIN’S agricultural exporters are bracing for a potential €3.5 billion blow when new US tariffs come into effect.
Donald Trump announced that he will soon be imposing tariffs on agricultural products imported into the USA starting from April 2.
“To the Great Farmers of the United States: Get ready to start making a lot of agricultural products to be sold INSIDE of the United States,” he wrote on Truth Social, before signing off with ‘have fun!’
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The impending trade barriers could have a severe impact on Spain’s crucial agricultural export market, with olive oil, wine, and table olives some of the main products sold in the US.
Some of the regions most at risk include Andalucia’s olive growers, Catalunya and Rioja’s wine cultivators, and the fruit and vegetable farmers in the Valencia and Murcia regions.
The tariffs have sparked concern among Spanish producers who have carefully cultivated the US market over many years.
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Rafael Pico from the Olive Oil Exporters Association (Asoliva) offers a measured response, suggesting that a global tariff approach might be the least damaging scenario.
“We believe there will be no distortion in the international market,” Pico explained, noting that all countries will face similar treatment.
However, not all industry leaders share the same level of optimism.
Antonio de Mora from the Spanish Table Olive Exporters and Industrialists Association (Asemesa) warns of potentially devastating consequences.
“Any tariff specifically targeting Spain and not applied to other non-EU countries would be severely detrimental to our industry,” he cautioned.
With €3.5 billion in exports hanging in the balance, Spanish agricultural producers are already taking proactive steps to mitigate potential losses by actively exploring alternative markets.
This is not the first time Spanish producers have faced international trade challenges.
Memories of previous tariffs, particularly those imposed during Trump’s first mandate on table olives, remain fresh in the industry’s collective memory.
Those earlier restrictions continue to impact exports, adding an additional layer of complexity to the current situation.
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