Overview

• The Trump administration will impose 30% duties on EU imports from August 1 unless a new trade agreement is finalized
• Spain’s Economy Minister Carlos Cuerpo warned that the tariffs could cost Spanish firms up to €22.7 billion in direct exports and indirect impacts
• Córdoba olive oil shipments to the United States rose nearly 17% in the first four months of 2025 as producers rushed to export ahead of the tariff deadline
• Andalusian authorities unveiled a €1 billion strategy to bolster olive groves and national ministers proposed restricting domestic oil sales to stabilize prices
• Prime Minister Pedro Sánchez has called for EU unity and advocated a proportionate but firm counter-response while urging swift ratification of the EU–Mercosur deal