Mondays mean tariffs. That seems to be the trade policy strategy of US President Donald Trump. This time, a 25% tariff on all steel and aluminum imports from that country.
Spain is the tenth exporter of steel to the US, with sales to that country of 290,000 tons in the last 11 months and one week, according to data from the US Public Administration. The value of these exports was $263 million (255 million euros), according to the COMTRADE database of the United Nations. This is a figure 2.2% lower than that of 2023, despite the US increasing its purchases of that alloy from abroad by 4%.
As for aluminum, Spain ranks twenty-eighth, with 19,664 tons in 2024, reaching a value of $132.93 million (128.9 million euros).
The main steel exporters to the US are, in order from highest to lowest, Canada, Brazil, and Mexico; in the case of aluminum, Canada, the United Arab Emirates, and China. Trump already imposed tariffs on imports of these two metals in 2018, triggering a trade war. In July of last year, the Joe Biden administration changed technical specifications for aluminum imports, which some saw as a hidden tariff.
Additionally, Trump has stated that tomorrow or the day after he will announce tariffs on countries that impose tariffs on imports from the US. It is very likely that the European Union - or EU members - will be affected by this latest measure. However, the US President has stated that these tariffs will not automatically take effect. This means that Trump is willing to withdraw them in exchange for concessions from its trading partners.
This was the case with the tariffs he threatened last week against Canada and Mexico. The US President agreed to postpone them for a month in exchange for two essentially symbolic measures from Mexico and Ottawa. Mexico announced it would increase the National Guard troops patrolling the border with the US from 32,000 to 42,000 to prevent the entry of undocumented immigrants, which falls within the usual range of soldiers that Mexico dedicates to this task. Canada announced a plan to invest $1.5 billion in border security, something it had already decided in December. The validity of Trump's accusation that the US suffers illegal immigration from Canada was confirmed when the Royal Canadian Mounted Police killed an American and detained 15 others the next day who were trying to enter the country illegally.
The 10% tariffs that Trump announced on Chinese imports, however, remained in place. On Thursday, Beijing responded with an increase in taxes on US imports worth almost 14 billion euros annually.
It is unclear whether the US will impose tariffs on aluminum from Mexico and Canada. But the decision could have consequences for a range of sectors. Some of them favored by Trump - such as the oil industry - and others not - such as wind energy - which use types of steel not manufactured in the US. During his first term, Trump imposed similar tariffs on steel and aluminum but established numerous exceptions - for example, for allies in the oil industry - so they could continue to bring that alloy to the US.
Brussels warns Trump that there is no "justification" for the tariffs
Europe's response has not been delayed. France demands that the European Commission immediately impose tariffs on US products in retaliation for those announced by President Donald Trump on steel and aluminum, said French Foreign Minister Jean-Noël Barrot on Monday.
From Brussels, Commission sources point out that they have not yet received any "official notification of additional tariffs on EU products". They add that they "see no justification" for their imposition but anticipate that if they occur, they will react "to protect the interests of European companies, workers, and consumers against unjustified measures.
"We will not respond to general announcements without details or written clarifications. The European Union sees no justification for imposing tariffs on its exports," said the Commission.
Any imposition of tariffs "would be illegal and economically counterproductive, especially given the deeply integrated production chains that the EU and the US have established through transatlantic trade and investment."
The European Commission, speaking on behalf of the 27 on trade matters, argues that tariffs "are essentially taxes" and that by imposing these levies, the new Trump Administration "would be taxing its own citizens, raising costs for companies, and fueling inflation."
The Commission also warns that tariffs "increase economic uncertainty and disrupt the efficiency and integration of global markets."
China expresses its rejection of the latest tariffs
China said on Monday that there are no winners in trade wars and asserted that "protectionism has no way out" when commenting on the latest tariffs announced by US President Donald Trump on steel and aluminum imports.
"Protectionism has no way out. There are no winners in trade and tariff wars," said Foreign Ministry spokesperson Guo Jiakun at a press conference.
He also said that China opposes the politicization of economic, trade, and technological issues and that, in contrast, Beijing's intention has always been to "create an internationalized business environment based on law and market orientation."
"The Chinese market treats all countries equally and is equally open to companies from all countries," he said.