According to Euronews, the President of the United States has recently threatened to sever trade relations with Spain. This followed a refusal by Spanish authorities to permit American military forces to utilize its bases for operations concerning Iran. Spanish officials have since described bilateral relations as normal, reiterating the country’s opposition to military conflict.

Read also: How Intelligent Logistics Systems Are Improving Trade Efficiency

Trade Volume and Composition

Goods trade between the United States and Spain was valued at approximately $47 billion in 2025. American exports to Spain reached around $26 billion that year, while imports from Spain were roughly $21 billion. Spanish exports to the US market include machinery, chemicals, pharmaceuticals, vehicles, and food products. Analysis indicates equipment and semi-manufactured goods, such as industrial machinery and chemical products, constitute over half of these exports. Food products represent about 18%, with oils and fats, including olive oil, accounting for nearly 14% of the food export segment. Specific goods like engines and construction materials are noted as high-demand items in the US.

Comparative Reliance on US Trade

Spain’s overall economic dependence on trade with the United States is limited. Data shows that about three-quarters of Spain’s total exports in 2025 were directed to European markets, with EU countries alone accounting for 62%. Only an estimated 4% to 5% of Spain’s total exports go to the US. This level of exposure is lower than that of several other European economies. For instance, in 2024, more than a quarter of Ireland’s exports went to the US, a figure that grew significantly the following year largely due to pharmaceutical exports. Germany and Italy each send about 10% of their exports to the US, while France sends roughly 9%.

EU-Level Trade Policy Complications

Any potential action by the US administration against Spain on trade would encounter legal challenges. As a member of the European Union’s single market, Spain does not set its own trade policy; negotiations are conducted at the EU level. This includes tariffs and trade agreements, such as a recently concluded but currently suspended EU-US deal. Consequently, trade restrictions would necessarily involve the entire European Union rather than Spain individually.

Source: IndexBox Market Intelligence Platform