Good evening, Binancers!!!
I want to share an article with you:
AmChamSpain;
“From #AmChamSpain we have sent a letter to the President of the United States, Donald J. Trump, with a copy to the Secretary of State, Marco Rubio, the Secretary of Commerce, Howard W. Lutnick, and the USTR, to express our concern about the possible imposition of new tariffs on products of European origin, and in particular, on Spanish products.
We have emphasized the uniqueness of the economic and commercial relationship between Spain and the United States. Unlike other countries, the United States maintains a trade surplus with Spain, reflecting a balance and complementarity in our bilateral trade relations. Moreover, reciprocal investments between both countries generate thousands of jobs and strengthen economic and strategic ties.
We are concerned about a tariff escalation that could affect the sales and profitability of subsidiaries of American and Spanish multinationals present on both sides of the Atlantic. Only the subsidiaries of American companies in Spain represent an estimated annual turnover of more than 60 billion dollars. Furthermore, Europe is the largest market for American multinationals worldwide. In 2022, American companies sold goods and services to European customers for a total of 3.62 trillion dollars, of which 2.62 trillion came from subsidiary sales and 600 billion from exports. Likewise, the United States is the largest market for European investors, with 64% of global direct investment in the United States coming from European countries, creating more than 5 million direct jobs in the country.
In this regard, during this week we have also urged the rest of the American Chambers of Commerce in the European Union to carry out similar actions, in line with the interests of the large number of companies and workers they represent. The set of AmChams in the EU (AmChams in Europe) represents thousands of companies —both American and local— that generate a total of 20 million jobs and more than 1 trillion euros in revenue in the European Union. This collaboration reinforces our message about the importance of maintaining a stable and balanced transatlantic trade flow.
We are convinced that stability and predictability in the bilateral trade relationship are fundamental to ensure a favorable environment for investment and sustainable economic growth. Therefore, we call for dialogue and cooperation to avoid an escalation of trade tensions that could harm businesses and workers on both sides of the Atlantic.
From AmChamSpain, we reiterate our commitment to continue working closely with our member companies and with the governments of both countries to promote a stable, open, and predictable trade environment that drives economic growth and prosperity on both sides of the Atlantic.”
Not for nothing, the American Chamber of Commerce in Spain (AmChamSpain) reminded in mid-February that exports of goods and services from the US to Spain reached 24.7 billion euros in 2024, while imports from Spain to the US approached 21.3 billion: the balance is favorable for the US by 3.4 billion.
more information about tariffs
In short, does Spain have to increase tariffs on the United States because it does not buy from us as it should?
I look forward to your opinions!!!
