17 Jun A NEW GESTURE FROM THE US REMOVES THE THREAT OF TARIFFS TO SPANISH FOOTWEAR
There is no doubt that the change in the USA presidency has helped improve its trade relations with Spain. The recent announcement of the postponement of the increase in tariffs on Spanish footwear was joined a few days ago by the agreement around the G7 to achieve fiscal harmonization for large multinationals. In addition to these announcements, on June 15, the suspension for five years of the special tariffs that were levied on Spanish products such as wine or olive oil at the United States borders. This pressure measure was implemented in retaliation for the Airbus-Boing conflict, a trade dispute with the European Union for the past 17 years.
The Government of Spain has welcomed this decision. «The agreement reached represents a historic step towards ending the longest trade conflict within the WTO and achieving the definitive elimination of tariffs that have weighed down the Spanish aeronautical and agri-food industry, as well as being able to recover Spanish export and investment operations in the US market, key for our companies and for the recovery of the Spanish economy ”, commented the Minister of Industry, Commerce and Tourism, Reyes Maroto.
This new meeting of the United States with its commercial partners in Europe further removes the threat of increasing tariffs on footwear from Spain by 25 percent. According to calculations by the Federation of Spanish Footwear Industries (FICE), if the new tariffs on Spanish shoes were to be implemented, “irreparable damage would be caused to a relevant sector of the industrial fabric and would lead to the loss of thousands of jobs , estimated at more than 1,500 direct and 5,600 indirect ».