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.
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