Trump's Trade Authority Could Impact U.S.-Spain Relations

President Donald Trump has the authority under the International Emergency Economic Powers Act (IEEPA) to sever trade with Spain if he chooses. While he previously expressed anger towards Spain's NATO defense spending, he later indicated some reconsideration after a positive meeting with Spanish Prime Minister Pedro Sánchez. Top exports from Spain to the U.S. include refined petroleum, pharmaceuticals, and electrical transformers. This situation highlights potential changes in trade relations which could impact consumers and companies engaged in commerce with Spain.