• Sabadell Companies Hub convenes more than 800 companies to analyse the trade conflict and share guidance on foreign trade strategies
  • “Trump’s announcement on tariffs is bad news, but the Spanish economy is among those best prepared to deal with this situation”, stated Banco Sabadell’s Chief Economist, Sofía Rodríguez
  • Joan Tristany, Director General of AMEC: “The Spanish industrial exports sector is highly adaptable and experienced in dealing with challenges like these”

10 April 2025

Banco Sabadell, through its Companies Hub, held a virtual meeting entitled “Geopolitical scenario: impact on the Spanish exports sector”, as part of the Support Plan that the Bank has put in place to provide companies with the key tools they need to make the right decisions in today’s foreign trade arena. 

More than 800 companies and SMEs connected virtually to the event, livestreamed from the Bilbao Chamber of Commerce, in which Banco Sabadell presented its new plan, starting with a discussion about the geopolitical scenario. The meeting was attended by Sofía Rodríguez, Chief Economist and Assistant General Manager at Banco Sabadell; Joan Tristany, Director General of AMEC (Asociación de las Empresas Industriales Internacionalizadas); and Carlos Dalmau, director of International Business at Banco Sabadell. 

Rodríguez shared an in-depth view of the impact of the Trump administration’s trade policy on Spanish businesses. Banco Sabadell’s Chief Economist expressed uneasiness about the US President’s approach to international trade, particularly the announcement on tariffs, which she described as “bad news, both in terms of their scale and the way they have been announced”. She also pointed out that tariffs are not a standalone measure, but form part of a broader agenda with a clear aim: “to disengage from international affairs, protect their domestic market and limit the scope of their public sector”. This agenda has implications, both nationally and globally. According to Rodríguez, “Europe has responded decisively, with initiatives such as Germany’s fiscal stimulus and the defence spending increase proposed by the European Commission”.

In terms of the Spanish economy, Banco Sabadell’s Chief Economist stressed that, despite the global challenges, the Spanish economy is well positioned to deal with the current situation, with growth forecasts at around 2%. “Direct exports to the US represent only 5% of total Spanish exports, therefore the Spanish economy is relatively insulated from the tariffs“, she remarked. She further added that “historically, Spain has demonstrated its capacity to adapt, for example, to Brexit or to Covid in recent years, and in all cases there has been a positive outcome, on balance, for Spanish businesses”.

Joan Tristany, Director General of AMEC (an association that promotes business internationalisation), examined the outlook for Spanish companies in a changing geopolitical environment. Tristany stressed that, although the US remains an important market, “there is life beyond the USA”, and he pointed out that international trade has evolved into a more dynamic and global model. 

The AMEC head presented some figures from a recent report published by the Association on the economic situation in 2024 and the outlook for 2025, providing an optimistic view of the industrial exports sector. According to the report, 71% of companies in the sector increased their sales in 2024 and 62% expect to improve their results in the coming months. Tristany also stressed that, despite the geopolitical uncertainty, “the Spanish industrial exports sector is highly adaptable and experienced in dealing with challenges like these, having lived through situations such as Covid, Brexit or the war in Ukraine”.

For his part, Carlos Dalmau, Director of International Business at Banco Sabadell, indicated that “it is essential to facilitate decision-making, especially in such an uncertain global environment, and this is why we have launched a support plan to help businesses to make informed decisions about international trade”. 

As part of this first meeting, and in line with its commitment to businesses and SMEs in relation to foreign trade, Banco Sabadell presented an effective and comprehensive support plan, providing valuable information and offering financing solutions tailored to the needs of businesses in an uncertain economic environment. “Our goal is to support companies every step of the way, offering tools to help them manage their foreign trade transactions efficiently and securely”, said Dalmau, who concluded that “this plan reaffirms the Bank’s commitment to offer ongoing support to businesses so that they may keep growing and prospering in the global marketplace”.

Companies Hub (Hub Empresa)

Banco Sabadell’s Companies Hub is an innovative space designed to support businesses with the challenges of growth, transformation and competitiveness. This unique centre offers specialist advice and access to strategic intelligence, topical content and the latest business trends, delivered through webinars led by specialists and leading figures, as well as inspirational and hands-on workshops that are open to all, irrespective of whether they are customers of the Bank. 

With Companies Hub, Banco Sabadell strengthens its commitment to the business fabric, fostering connections between companies, experts and new partners to drive forward the development of high value-added projects.