From Acerinox to Tubacex: Companies were prepared to avoid the tariff’s coup

As they have explained to ABC various sector sources, the coup will be less than expected since tariffs on these products are standing from Trump’s first mandate. In addition, many of the great industrialists have been delocating some production for some time, and moving this capacity to the US.

Another important factor is that these companies have also turned part of their business towards strategic consulting and other options that, related to their business, are not only oriented towards production. In this sense, Trump’s positions on sectors related to fossil technologies at the energy level, especially gas, are also a very attractive segment for Spanish companies.

With regard to some of the main Spanish companies, since Tubacex They consider, for the moment with great caution, that the impact in their case will be less unlike other companies in the steel sector. The fundamental reasons are the group has an important presence in the US market, with seven productive plants by manufacturing ‘Premium’ product for the energy and aerospace sectors (the two main factories in that country – in Pennsylvania and Oklahoma – plus five floors of Precision mechanized, manufacture of drilling components ‘Upstream’ and ‘Renting’ of these tools, through the Coparticipada company NTS.

Meanwhile, the great Spanish axis, Acerinoxhas a presence in the USA and even buy a company, Haynes. A situation that leads him to have more than half of his income directly on American soil.

However, the impact is important despite the fact that some large companies are not directly affected. Therefore, the great petition is currently business.

A strong Europe

From the great Employer of Steel Unesidthe reactivation of the negotiations between the European Union and the US in the matter of steel and aluminum, with special attention to the decarbonization commitments.

From UNESID they emphasize the importance of a strong and united Europe, prepared to establish difficult negotiations and protect their own interests. They bet on dialogue and cooperation as better tools to ensure in a predictable and balanced commercial framework.

Also, from the organization they support the need for an early commitment to prevent significant interruptions in commercial and investment relations between both parties. They consider positive for the EU to be adopting a proactive and united position to protect their commercial and economic interests, at the same time seeking dialogue and preparing for possible measures if necessary.

Political messages

The Minister of Economy, Commerce and Business, Carlos bodyhe said yesterday that he was going to gather this Monday with the steel and aluminum sector in Spain. «From Spain, send a message of trust and support to the steel and aluminum sector. Support for the sector, to the companies and the workers, ”said body.

He was not the only one who spoke. The Minister of Foreign Affairs, José Manuel Albaressaid that the EU, who is the one who has the competences in commercial matters, is “prepared for any eventuality” waiting for an official communication on the import tariffs of steel and aluminum.

For its part, the European Commission has already warned Trump that there is no “justification” to impose tariffs on exports to these products, and therefore will respond to any “unjustified” measure that can put European interests at risk. This is the first Brussels reaction to the announcement.

In spite of everything, from the Acerero sector they ask for the maximum prudence in the next movements that occur both from the EU, as well as the meanings of each country. Although the coup has been able to cushion, at least in part, that export figure close to 500 million to steel and aluminum as one of the sectors with great presence in the US.