The Association of Internationalized Industrial Enterprises (AMEC), representing Spain's largest exporting companies, has indicated that it expects to maintain 10% of its exports in the United States, even in the face of a trade war initiated by the Trump administration.

Joan Tristany, the association's general director, stated that despite operational issues currently affecting companies, they anticipate maintaining their export levels by the end of the year.

Tristany emphasized that while they foresee retaining this market share, certain sectors could experience pressure on profit margins due to increased competition from local alternatives in the U.S. market.

He noted, 'The United States is a margin-oriented country rather than a volume one.' The U.S. is currently the second largest market for AMEC member companies, accounting for 10.6% of their exports.

Before the onset of the trade conflict, projections for growth among AMEC members were optimistic, with expected growth rates of 11.4% for 2025. In January, U.S. imports had risen 20% compared to the same month the previous year, attributed to stockpiling ahead of impending tariffs.

When asked which sectors would be most adversely affected, Tristany mentioned that the wine sector would suffer, while the impact on other industries remains to be evaluated.

He pointed out that companies are drawing on their experiences of previous crises, including market closures in Russia and Algeria, the COVID-19 pandemic, and the effects of Brexit, allowing them to approach the current situation with a measured perspective.

The uncertainty in global trade has heightened due to geopolitical developments, as noted by Tristany.

He remarked, 'We have moved from multilateralism to a world of blocks, and the greatest danger for us is not just tariffs, but unpredictability.

It is crucial to see how the rules of the game evolve.' AMEC's annual survey, conducted before the recent tariff crisis, had shown strong optimism regarding operational plans for the year.

Historically, Trump has utilized high tariffs to strengthen his negotiation position, a strategy reiterated by Tristany who expressed hope that the U.S. will likely ease these measures.

Currently, the United States accounts for 4.5% of Spain's total exports, significantly lower than the volume shipped to neighboring Portugal.

In anticipation of ongoing challenges, exporters are prepared to implement diversification strategies that were already in progress before this most recent trade disruption.

Many of the companies involved remain profitable, with stable and moderate results expected into 2025.