Spain panic as key market slumps by 21% after Trump threat | World | News

Spain’s lucrative wine industry called for tariff agreements immediately after exports to the United States decreased by about 21%. Following Donald Trump’s tariff announcements in March, wine imports in April, one of the largest wine markets in Spain, fell 20.8% in April.

According to the data presented in the economic report of the Spanish Wine Professional Association on Thursday, the US is the second largest market compared to the value for Spanish wine. OIve President Fernando Ezquerro wanted to take action immediately in Spain and Europe.

He said: “Now we need an agreement on tariffs and we need to be as low as possible, because the uncertainty is just disrupting the numbers when the unstable market is considered. We need to know which cards we play.”

In May, Ezquerro called on Spanish, French and Italian wine in the purchases of the purchases of “an effort to reach an agreement from European diplomacy”.

According to Comité Européen des Entreprises Vins, representing the European wine industry, it is the US largest wine export market and sends more than € 4.5 billion (£ 3.78 billion) to the US every year.

However, on Saturday, July 12, Donald Trump proposed to increase tariffs on European products to 30% from August in a letter to the European Commission President Ursula von Der Luyen.

Susana García Dolla, Director of Paper Association, emphasized the importance of creating an image of Spanish wines in the international arena with the amount of “International Competition and Many Producer Countries”.

Since 2004, Spain has sold more wine from home abroad and added: “We have a volume that has fallen since the 1970s. Wine ‘brand’ brand ‘and ambassador for the country.”

According to OIve data, Spain’s wine exports exceeded € 3.5 billion in 2024, but an increase of 3.5% representing the “new history”, although a slight volume contracted.