Gestha announces the results of a study by Customs technicians on the products most vulnerable to the new tariffs imposed by the US.
Customs technicians estimate that the Spanish exports most vulnerable to the imposition of new tariffs by the United States, which total some 700 million euros per year, will bear an extra cost of almost 120 million euros.
In the specific case of the province of Albacete, they estimate that the exports most vulnerable to the new US tariffs amount to some 82.3 million euros. The extra cost, in the case of our province, will be about 11 and a half million euros.
This is indicated in a study released by the Union of Technicians of the Ministry of Finance (Gestha), of which the Customs technicians are part, which corrects slightly downwards the initial estimates of the Ministry of Agriculture, Fisheries and Food.
The study considers that the Spanish products most affected by the tariff increase that the Government of Donald Trurm will apply starting today will be virgin olive oil, olives and olive oil, whose presence in the US market is almost a fifth of oil exports and 23.7% of olive exports.
Consequently. The most exposed producers in our country will be those of Andalusia (Seville, Córdoba and Malaga), Catalonia (Lleida), Castilla-La Mancha and the Valencian Community, depending on the situation of the companies' registered office.
Despite the bulk of the figures, Gestha assures that the impact in Spain of this tariff policy will affect only 0,7% of all Spanish exports, and for the sectors affected by the US measures it will be significantly less than expected, since sales to the US are only 4.5% of our world exports, and only 5,5% of them will be affected by the tariff.
However. The authors of these calculations also recognize that the new tariffs will not exclusively affect exporting companies, but will also have an indirect impact on companies that produce and market raw materials, as well as on the entire production chain.
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