Trump tariffs on steel and aluminium to have 'limited' impact on Catalonia 

The tariffs imposed by the United States on steel and aluminum are expected to result in an annual impact of approximately €36.3 million on 34 companies, according to a recent estimate by Catalonia Trade & Investment (ACCIÓ), a public agency that promotes business growth and innovation. 

While Catalonia exported €127 million worth of these metals in 2023, the categories targeted by the new tariffs are ''highly specific'' and their overall impact is expected to be ''very limited'' the agency stated.  

Despite this, industry representatives warn of potential indirect consequences for sectors such as automotive, pharmaceuticals, and housing.  

According to ACCIÓ’s director of international business, Cristina Serradell, the tariffs apply mainly to raw steel and aluminium as well as some manufactured products. ''Although the metallurgy sector is important for Catalonia, the specific categories affected will have a greater impact on other regions of Spain,'' she explained.  

The United States represents only 3.3% of Catalonia's total steel and aluminium exports, and these metals account for just 3.5% of the region's total international trade in goods.  

The 34 companies identified by ACCIÓ as being directly affected belong to the mechanical metal sector and range from large corporations to small and medium-sized enterprises.  

With the current scope of tariffs, the measure will impact €36.3 million in exports, nearly 30% of the €127 million worth of aluminium and steel shipped to the US. Of this, €20.8 million corresponds to iron and steel casting, €6.1 million to manufactured goods, and €9.2 million to aluminium and related products.  

Jaume Roura Calls, president of the Metallurgical Employers' Union, has urged attentiveness to ensure that the tariffs do not have indirect effects on products that contain these materials. ''Sectors such as automotive and housing could be impacted, as well as unexpected areas like pharmaceuticals," he warned. 

Roura Calls also pointed out that Catalonia’s metallurgy sector is "far ahead" of other Spanish regions such as the Basque Country and Madrid, making any disruption particularly concerning. 

Badalona-based aluminum manufacturer Anudal, who makes brackets used in window frames, is among the companies facing direct consequences. The firm expects a 5-10% drop in foreign sales and an overall 3% global revenue.  

While its primary market is Spain, exports make up to 40% of its business, with significant sales in Mexico, a country closely linked to US economy.  

Even though Anudal does not sell directly to the US, the company anticipates a lower demand from its Mexican buyers, who in turn supply US markets and now will face your tariffs.  

Eva Hernámperez, Anudal's general director, admitted that the situation is ''concerning'' and will have an impact. However, she noted that the biggest issue is not the tariffs themselves but rather the rising price of aluminium, which is determined on the London Metal Exchange. ''The uncertainty created by Trump is increasing market volatility, and we are already seeing forecasts of higher aluminium prices,'' she explained. 

To minimize the impact, Anudal has stockpiled aluminium at current prices to shield itself from potential price hikes. ''This is affecting our cost structure and, in turn, will impact sales,'' Hernámperez said, adding that as a component supplier, the company is reluctant to pass price increases on to its customers.