Mr. Trump wants to cut off trade relations with Spain

On July 8, US President Donald Trump said he had directed Treasury Secretary Scott Bessent to cut off all trade relations with Spain.

This statement was made in the context of Washington’s fierce argument with Madrid over defense spending and Spain’s failure to support the US in the war with Iran, AFP said.

“We no longer want to trade with Spain,” Mr. Trump said when attending the NATO summit in Ankara (Türkiye). He also called Madrid a “bad partner” in NATO.

 

US President Donald Trump in the Oval Office, White House, July 6. Image: Reuters

In March, the US President also threatened a trade embargo against Spain, when the country refused to let the US military use a base to attack Iran. “We will cut off trade relations with Spain. We don’t want anything to do with them anymore,” Mr. Trump said at that time.

Mr. Trump has repeatedly expressed his dissatisfaction with Spain, as the country has not yet agreed with NATO’s new goal of spending 5% of GDP on defense. Spain’s leaders also refused to let the US use its airspace or bases on its territory during the conflict with Iran.

After Mr. Trump’s statement, the Spanish Prime Minister’s Office said bilateral relations are bringing benefits to the two countries, both in trade and defense. They say Spain “has excellent social, cultural and economic relations with the US” and has “no intention of changing that”.

Spain is the world’s largest exporter of olive oil. They also sell auto parts, steel and chemicals to the US. Compared to many other European countries, Spain is less vulnerable to Mr. Trump’s threats of economic sanctions.

Last year, the US recorded the fourth consecutive year of trade surplus with Spain, at 4.8 billion USD. According to data from the US Census Bureau, the country’s exports to the European country reached 26.1 billion USD and imports were 21.3 billion USD. Exports of crude oil and liquefied natural gas to Spain have also accelerated over the past few years.

By Editor