The Basque Government will set up tariff tables on steel, machine tool and automotive
In the absence of the 'last picture' of the tariff map, the Basque Government estimates that ACV exports to the US could cost an extra EUR 349 million, while sales could fall by around EUR 700 million, with GDP falling by 0.33%.
The Basque Government's Industry Advisor, Mikel Jauregi, has announced the launch this month of three sectoral tables, which he has described as "priority" because of the impact that Trump's tariffs may have on them: steel, advanced manufacturing and automotive.
At a press conference held this Thursday in Bilbao, the Councillor explained that, as the agreement between the US and the EU is being clarified, a more in-depth analysis of the impact can be carried out, for which the tables will be set up, in which representatives of the Basque Government, Member States, chambers of commerce, business organisations and tractors will participate.
In an initial analysis of the potential impact of tariffs on the Basque industry, Jáuregui recalled that exports from the Basque Country to the United States amounted to €1,991 million last year, especially in high-value-added products.
In the absence of the 'last picture' of the tariff map, the Basque Government estimates that exports from the ACV to the US could cost around EUR 349 million , while sales could be reduced by aroundEUR 700 million , with GDP falling byapproximately 0.33%. The sales reduction would be 22-27% on affected products.
By sector, the Basque steel sector allocates 13% of its exports (a total of EUR 261 million) to the US, and the imposition of a 50% tariff "puts Basque companies in an almost total loss of competitiveness".
Advanced manufacturing (machine tool) exports 272 million to the US, 15% of total exports in the sector. In this area, although the final product has a 15% tariff, many components have a 50% tax, which has an impact on competitivity.
The situation of the Basque car industry will also be discussed at a special table. In fact, although direct sales to the US are only 3%, it has high indirect exposure because it is integrated into the supply chains of France and Germany, the main European exporters of vehicles to the US. Jáuregui has also stressed that the transition to electric vehicles, regulatory pressures and the slowdown in demand in Europe's "weakening" automotive industry makes the sector even more vulnerable.
The first meeting to be held next Monday at the Miñano Technology Park (Álava) will be that of the steel table, and the next will be those dedicated to the automotive and machine tool industry, both in Bilbao on 22 and 29 September respectively.
You might like
Volkswagen will cut 50,000 more jobs, half in Germany and the rest in Europe
The Volkswagen group is in crisis due to strong competition from Chinese manufacturers in Europe, declining sales in China and tariffs in the United States.
France announces aid to farmers affected by drought
Farmers' representatives will meet next week with the French Ministry of Agriculture to convey their demands. The effects of drought and heat are being felt economically, but also physically and mentally.
A worker died in an accident at a winery in Lanciego
The incident took place around 12:20 p.m. and the circumstances of the incident are being investigated. Emergency services have been moved to the scene, but the operator's life has not been saved.
A new tax on fast and cheap clothing is introduced in France
Asian giants like Shein or Temu will now have to pay penalty rates of between 50 cents and 12 euros per garment.
The diesel discount goes up to 20 cents per litre, and the gasoline discount goes down to 5 cents
The tax rebate on diesel has doubled since today, while petrol has halved.
The Basque Government will meet again this Tuesday with farmers to assess the impact of the drought
Agricultural associations and trade unions, among others, want the ACV to be declared a drought zone and special measures to be taken. The meeting will take place at 4 p.m. at the headquarters of the Basque Government in Vitoria-Gasteiz.
Trade unions and employers sign the first agreement on nursing homes in Navarre
After more than five years of negotiations, trade unions and employers have signed the agreement today, which will involve more than 5,000 workers.
The electricity bill has risen 19% in August, reaching its highest level since 2022
Rising demand in heat waves and rising natural gas prices will make an average user's receipt about EUR 14 more expensive.
The 20 cent diesel rebate will come into effect on Tuesday
The measure, which has so far been reduced by 10 cents per litre, aims to combat fuel prices by 15.7% in July.
The September hill this year will be one of the hardest in years
With the return to work, the families of the Basque Country face another reality, which is that this year's September hill will be one of the hardest in recent years, as evidenced by inflation at 4.3%, a figure not seen since February 2023.