The Spanish economy has a high vulnerability to the increase in tariffs worldwide linked to the resurgence of the commercial war. Only the last threat to increase taxes on several European goods announced by the US will leave an economic damage to the country of 130 million euros as a result of lower sales of agri-food products.

The analysis carried out by the agency headed by Pablo Hernández de Cos estimates a 12% reduction in sales of this sector to the North American market as current tariffs are increased from 3% to 25%. For every 1% tariff increase, sales would suffer 0.6%, according to the calculation of the study signed by Eduardo Gutiérrez Chacón and César Martín Machuca.

The fiscal increase is expected to enter into force this Friday, October 18 and is directed against all the economies of the European Union, but it especially affects Spain due to its high exposure to both sectors. One of every five food goods that leaves the EU has its origin in the Spanish countryside, a situation that encourages the Spanish economy to suffer a higher general tariff higher than the average in the region as they are more fiscally protected products.

The tariff threat also affects the manufacture of civil aircraft in Europe, mainly affecting the aeronautical giant Airbus in which the country holds a 5.5% stake . If the announcement finally materializes, the EU has announced that it will respond with similar measures resulting in a resurgence of the commercial pulse between the two countries.

"In practical terms, these results reveal that increases in tariff barriers have an adverse and persistent impact on the export capacity of our economy," the report details.

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