Trump's Tariffs Put Nearly 500 Million Euros of Alicante Exports to the US in Jeopardy

New tariff measures announced by Donald Trump this Wednesday have sparked the beginning of a trade war. With what the US President calls "reciprocal taxes," the tariffs on the European Union (EU) have confirmed the tension in current relations between the EU and the Trump administration.

Despite officially presenting them this Wednesday, Trump had been threatening these tariffs since his election as president. These tariffs will impact numerous companies in the province of Alicante and the Comunitat, affecting key sectors that have a significant market in the United States.

The Alicante Chamber of Commerce estimates that the province's trade with the United States is worth nearly 500 million euros. Sectors like footwear achieve 27% of their revenue from exports to North America, while agriculture also exports a significant volume to this country, around 14% of the total sold in 2024.

The Chamber of Commerce details that the weight of exports to the United States is greater in Alicante than in the rest of Spain, as they account for 6.5% of the total exported from the province, compared to the national average of 4%. Nevertheless, the impact will be "limited," as these exports only represent 1.4% of the provincial GDP, although they will affect sectors unevenly.

"The new tariffs have raised alarms in the province of Alicante," explains the President of the Chamber of Commerce, Carlos Baño, who highlights that there are "sectors heavily affected." Baño assures that there are even specific cases of companies with single products "that have been severely impacted," citing an example of a company that generates 40 million euros from exports to the United States.

In this regard, the Alicante Chamber of Commerce advances that "we will request measures from the public administration to defend these sectors," some of which are key to the Alicante economy, such as footwear, the state's main manufacturing industry and the largest exporter in Alicante.

The Chamber's Director of Studies, Mari Carmen Pastor, explains that "Trump's tariff measures have increased uncertainty and trade tensions, causing even more instability in the global landscape," and details that a trade war has ensued with the new US president's entry.

Pastor details that although Alicante's exports will be boosted in 2025 by demand, "the weakness of the eurozone and the new tariffs limit the growth of foreign trade in Alicante." The Director of Studies makes it clear that "uncertainty and trade tensions remain a key risk for the Alicante economy."

The President of the Chamber, Carlos Baño, details that "we will convey all the particularities of Alicante's companies and economy" and advances that "we are undertaking internationalisation actions to diversify and not rely solely on one market." Baño emphasises the importance of expanding into other markets and lists a series of trade missions and international actions in countries such as Costa Rica, Cambodia, Vietnam, and Algeria, assuring that there are already affected companies interested in participating.

The Generalitat is aware of the negative impact these tariffs will have on the Comunitat's economy, estimating the territory's trade with the United States at over 2.8 billion euros. The Minister of Trade and Industry, Marián Cano, has urged companies to "seek new markets to diversify their offerings."