U.S. President Donald Trump meets with Volodymyr Zelenskyy, President of Ukraine (Not Proven) for bilateral talks at Beştepe Presidential Compound throughout the NATO Summit on July 08, 2026 in Ankara, Turkey.
Win Mcnamee | Getty Photographs
Individuals might not want to start out panic-buying Ibérico ham — but.
President Donald Trump might not observe by means of on his demand for the U.S. to utterly sever commerce with Spain — however he might if he wished to, utilizing the similar legislation behind his failed “reciprocal” tariffs, U.S. Commerce Consultant Jamieson Greer mentioned Thursday.
Regardless that Spain is a member of the European Union, Trump might single it out utilizing the Worldwide Emergency Financial Powers Act, or IEEPA, Greer instructed reporters on the White Home.
The legislation empowers the president to impose sure financial sanctions in response to a declared nationwide emergency. Trump asserted that the legislation licensed him to impose individualized tariff charges on almost each nation, however the Supreme Court docket in February struck down these import duties.
“Everybody has heard of IEEPA, famously in reference to our, our tariffs over the previous 12 months, however the actuality is, IEEPA has been in place for a lot of a long time,” Greer mentioned Thursday.
“It’s presently an authority that’s used to restrict commerce with locations like North Korea,” Greer defined.
He mentioned that although the Supreme Court docket discovered IEEPA didn’t help Trump’s tariffs, its ruling “highlighted that IEEPA clearly says you’ll be able to prohibit commerce, you are able to do sure issues.”
However the commerce official pressured that whereas Trump “for positive can” take that step, he might not wish to.
That is as a result of Trump and Spanish Prime Minister Pedro Sánchez not too long ago had a “good assembly” to debate “core points about cost,” Greer mentioned.
“I’ve heard optimistic developments on that entrance on Spain,” he mentioned.
That will be a serious shift from only a day earlier, when Trump, clearly indignant with Spain’s resistance to boosting its protection spending as a part of NATO, abruptly declared he was achieved coping with the nation in any method.
“Spain is a horrible associate in NATO. They do not take part. They do not pay. I do not need something to do with Spain,” Trump mentioned throughout a media look at a NATO summit in Ankara, Turkey.
Prime exports from Spain to the U.S. embody refined petroleum, prescribed drugs and electrical transformers, in keeping with the Observatory of Financial Complexity.
“Reduce off all commerce with Spain, please, together with visits,” mentioned Trump, who was seated subsequent to NATO Secretary-Common Mark Rutte.
Trump has demanded that every one NATO allies increase their protection spending to five% of their gross home product to unfold the alliance’s value burdens extra evenly. A lot of the members have agreed to boost their spending targets — however Spain has rejected the NATO proposal as “unreasonable.”
Trump himself softened his tone towards Spain after departing Turkey.
“I did have points, and I nonetheless do, however Spain got here again all the way in which at present. Spain was very beneficiant at present,” Trump instructed reporters on Air Drive One on his return journey to the U.S.
Requested what Spain did to get again in his good graces, Trump, after a pause, mentioned the nation “honored a request for many funds.”
It was unclear what Spain had particularly agreed to, if something. Spain’s embassy within the U.S. didn’t instantly reply to CNBC’s request for touch upon the remarks from Trump and Greer.
This week wasn’t the primary time this 12 months that Trump and Sánchez have butted heads. In March, after the U.S. started its conflict towards Iran, Sánchez criticized the strikes, and Trump additionally threatened to chop off commerce then.
Requested on Thursday if Trump is not in search of a Spanish commerce divorce in gentle of the assembly with Sánchez, Greer mentioned, “I do not wish to get forward of him … but it surely sounds prefer it was very optimistic.”
Pressed for readability, Greer mentioned Trump “has plenty of choices,” and famous the president has beforehand weighed in on Spain’s spending.
Greer added that he’s in contact with Treasury Secretary Scott Bessent, who traveled with the president to Turkey.
“I do not assume there’s something imminent on that,” Greer mentioned concerning a halt to buying and selling with Spain.
