The Club of Exporters and Investors has called for prudence and the reinforcement of institutional dialogue following the latest statements by the President of the United States, Donald Trump, on eventual trade reprisals against Spain, made in the context of the NATO summit taking place in Ankara.
The organization has stressed that Spain does not act in isolation in the field of international trade, but is integrated into the single market of the European Union. "Any measure against Spain would have an effect that transcends the bilateral and would affect the entire community bloc," the president of the Club of Exporters, Antonio Bonet, stated this Tuesday in a press release distributed to the media.
On the commercial front, the United States is among Spain's main partners. In 2025, Spanish sales of goods to the US market approached 16.7 billion euros, representing around 4.3% of total national exports.
"A deterioration of this relationship would hit the agri-food sector hard - olive oil, wine, Iberian ham, black olives - and the machinery and capital goods industry, in addition to jeopardizing the supply of US liquefied natural gas, on which Spain strategically depends," Bonet added, warning of the impact a prolonged tariff conflict could have.
At the same time, the Club has recalled that the relationship is not limited to potential damages: Spain registers a surplus of over 10.5 billion euros in non-tourism services (consulting, engineering, digital and financial services), while cross-investment between both countries exceeds 200 billion euros jointly, which significantly increases the cost of any rupture for both economies.
Bonet emphasized that, as trade policy is an exclusive competence of the European Union, Spain lacks room to react alone, so "any reaction would depend on a joint response from Brussels, which has already warned that it will activate its defense mechanisms if a member state is attacked."
The Club of Exporters and Investors has finally emphasized that the path of commercial diplomacy is the only one capable of preventing a deterioration of relations between Spain and the United States that, given the intense existing economic interdependence, could unleash difficult-to-foresee effects for both parties.