Economics & Markets

The announcement of a significant and widespread increase in tariffs by the Trump administration, coupled with an erratic and unpredictable economic policy, has triggered fears of a further slowdown in the global economy. In this context, it is time to re-evaluate where the Spanish economy currently stands, assessing its strengths and weaknesses in the new scenario.

Trump’s tariffs will not serve to reduce the trade deficit, to recover jobs in sectors in which the US has long lost its competitive advantages or to balance the fiscal deficit. Meanwhile, the price to pay is a return to a fragmented world and the destabilisation of the world economy.