Trump's Trade Threat Against Spain Sends Markets Lower

Deep News
Jul 08

Former US President Donald Trump made critical remarks about Spain at a NATO summit in Turkey, following Spain's decision to close its airspace to US military aircraft involved in operations against Iran.

Trump stated in Ankara, "We are no longer going to engage in any trade with Spain. I do not want to have any dealings with Spain anymore; please cease all trade with Spain completely."

The remarks prompted a significant drop in the share prices of major Spanish banks listed in Madrid. Banco Santander, S.A. shares fell approximately 4.5%, while Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) shares declined around 3%.

In response, Spanish Prime Minister Pedro Sánchez stated that the overall bilateral relationship between Spain and the United States remains sound. He further clarified that, as a member of the European Union, Spain conducts relevant trade negotiations exclusively through official EU institutional channels.

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