The possibility that the U.S. imposed trade tariffs on various Spanish products, especially in the agri-food sector, it becomes a new factor of concern on the economic evolution. The Executive encourages the EU to respond, but for now I am not betting on lower growth forecasts.
According to the minister of Agriculture in office, Luis Planas, has been estimated at 1 , 000 million euros for Spain and its agri-food sector. The total of these tariffs to other european partners amounted to 6,830 million euros.
Flat has been argued that "there's still time" before those tariffs of a provisional list can come to effect. The minister Flat has urged the European Commission "does not reach to enter into force", but anticipating that if there is no agreement and the united States continues to study the "possibility of trade retaliation".
This factor binds to the cooling of the european economy, the trade tensions between China and the usa.USA or the tensions arising from Brexit. All indications are that the Government may downgrade its growth forecasts for 2019 and 2020.
The minister of Economy, Nadia Calviño, has assured that "if there is that review (the growth forecast) will be" . Calviño has admitted that the indicators are mixed, some positive and others negative, in respect to the suitability of revise downward the estimates should be sent to Brussels by 15 October.
Calviño recognizes that it enters a phase of moderation, but inside still a "expansionary cycle" , and argues that currently, the Spanish economy has the foundations more solid when he had to face the recession of 2008: "Not applicable fall into complacency, but not in fear-mongering," he said.Updated Date: 04 October 2019, 22:00