The European Union\u2019s decision to impose $28 billion in counter-tariffs on U.S. goods has sparked a mix of cautious support and economic anxiety among Madrid residents, as global trade tensions threaten to escalate. The move, set to take effect next month, responds to Washington\u2019s controversial steel and aluminum tariffs and signals a hardening stance from Brussels.
CGTN\u2019s street interviews in Spain\u2019s capital revealed broad acknowledgment of the EU\u2019s retaliatory measures as necessary, yet tempered by concerns about long-term consequences. \u201cTrade wars are like wildfires \u2013 once they start, no one wins,\u201d said Ignacio, a local resident, capturing the mood of a population wary of spiraling economic repercussions.
Analysts warn the tariffs could ripple through European automotive, agricultural, and tech sectors, while U.S. whiskey, motorcycles, and machinery face steep EU import taxes. The development comes as businesses and investors across Asia monitor shifts in transatlantic trade patterns that could influence supply chains and market access.
While EU officials frame the tariffs as a defense of multilateral trade rules, some economists caution that prolonged disputes may further strain pandemic-recovering economies. \u201cThis isn\u2019t just about steel \u2013 it\u2019s about preserving the architecture of global commerce,\u201d noted Madrid-based trade expert Elena Torres.
