According to the Spanish Commercial Chamber (CCE), a 25%export duty in the United States, declared by President Donald Trump, will not have a significant impact on Spain. This is due to the fact that the relative prices for steel and aluminum are expected to change significantly, explains CCE in a note that Callanish got acquainted with.
“The change in the current trading structure will negatively affect the production sector of Spain as a whole. If the 25%tariff for steel imports will remain in force, this can lead to a decrease in the total cost of Spanish exports by an average of 10.4%, ”the Chamber of Commerce notes.
According to the US Census Bureau, the Spanish steel exports in the United States in 2024 amounted to 264,809 tons, which is 0.4% more than 263,825 tons in 2023. Its cost amounted to 412.2 million US dollars.
In October 2021, the EU and the United States agreed to introduce a tariff quota system (TRQ) for steel trading, which will operate until March. Within the framework of this system, 3.3 million tons of steel per year can be exported by the EU in the USA duty -free. However, after the exceeding this quota, a tariff of 25%is used.
US tariffs are unlikely to have a strong impact on Spain
|
Azovpromstal® 19 February 2025 г. 13:02 |
