Tariff Protectionist Measures and Spanish Goods Exports

9 Pages Posted: 23 Oct 2019

Date Written: October 17, 2019

Abstract

The rise in global protectionist tensions in recent years has, after decades of across-the-board declines, entailed increases in tariffs that are proving detrimental to international trade and thereby affecting the Spanish economy’s external sector outlook. This article estimates the effect of tariffs on Spanish non-energy, non-EU goods exports drawing on data broken down by country of destination and type of product. The results show that an increase in tariffs adversely impacts both export possibilities and, persistently, export values. On the estimates made, a 1% increase in import tariffs imposed by another country on a Spanish product entails a reduction in nominal exports of around 0.6%. Protectionist risks underscore the role of the EU in promoting international trade agreements, such as those recently entered into with Japan, Canada and Mercosur.

Keywords: trade, exports, protectionism, tariffs

JEL Classification: F1, F13, F14

Suggested Citation

Gutiérrez Chacón, Eduardo and Machuca, César Martín, Tariff Protectionist Measures and Spanish Goods Exports (October 17, 2019). Banco de Espana Article 30/19. Available at SSRN: https://ssrn.com/abstract=3473782 or http://dx.doi.org/10.2139/ssrn.3473782

Eduardo Gutiérrez Chacón (Contact Author)

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

César Martín Machuca

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

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