The Impact of El Hombre Naranja on the EU and ultimately Spain?
And so it is beginning, one of the headlines I saw today
EU steps up Spanish olives spat with US
In summary-
The European Union has requested authorization from the World Trade Organization (WTO) to impose counter-measures worth $35 million annually on U.S. imports. This follows the U.S.'s imposition of duties on Spanish ripe olives in 2018, which were deemed inconsistent with WTO rules. The EU seeks compensation for the U.S.'s failure to comply with a WTO ruling against these tariffs. A WTO arbitrator will now determine the appropriate level of counter-measures. The tariffs, imposed during Donald Trump's presidency, alleged that Spanish olives were unfairly subsidized and sold below market value.
While this is older news another headline I read today
Trump threatens to impose sweeping new tariffs on Mexico, Canada and China
US PRESIDENT-ELECT Donald Trump is threatening to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office as part of his efforts to crack down on illegal immigration and drugs.
The tariffs, if implemented, could dramatically raise prices on everything from gas to automobiles.
He posted on his social media platform (sic) '.. the new tariffs would remain in place until such time as Drugs, in particular, Fentanyl, and all Illegal Aliens stop this Invasion of our Country!
Trump’s nominee for treasury secretary, Scott Bessent, if confirmed, supports using tariffs as a negotiation tool for advancing U.S. foreign policy goals. In a recent Fox News op-ed, he argued that tariffs can encourage allies to increase defense spending, open markets to U.S. exports, combat illegal immigration and fentanyl trafficking, and deter military aggression. If confirmed, Bessent would help oversee tariff policies.
Now I know that the rise in prices referred in the article are in reference to what will happen in the US, my question is how do you think his increasing tariffs could impact the EU and Spain?