Spain felt the "Trump effect": exports to the U.S. fell by 13.8%

In April 2025, Spain’s exports to the United States fell by 13.8% compared to the same month last year, amounting to €1.36 billion. Amid the new trade barriers introduced by Donald Trump's administration, the trade deficit also widened: the gap between imports and exports reached €1.25 billion. Exports to key EU countries are also declining: Germany (-12%), France (-11.5%), and Italy (-10.5%). Meanwhile, shipments to China (+20.4%), Saudi Arabia (+21.2%), and the UAE (+75.2%) are on the rise. U.S. policy is already affecting European supply chains.