FAR-left voices in Spain have called for increased taxes on multinationals and wealthy individuals from the US.
The proposal, from Enrique Santiago, spokesman of the Izqiuerda Unida (IU) party, which is now part of the Sumar party, is a direct response to the catastrophic trade tariffs set to be announced by President Donald Trump today.
He also suggested Spain look more towards China when it comes to finding a reliable trading partner.
It comes after Trump sent shockwaves through the Spanish wine industry when he threatened a 200% tariff on all alcohol experts from the EU.
The move was said to be a retaliation of the tax the Bloc had announced on US whiskey.
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The threat alone by Trump has already had serious consequences for the wine industry in Spain.
According to Santiago, exporters of vino have lost €100m in orders per week since the threat was made, because buyers became jittery and began cancelling en masse as a ‘preventative measure’.
Essentially, they did not want to place orders past April 2, aka ‘Liberation Day’, only to be forced to pay for a 200% tariff.
Santiago today called for PM Pedro Sanchez to send a message to the US by placing ‘special taxes’ on corporations and wealthy businessmen ‘with interests in Spain’.
‘These measures don’t affect prices, but they do represent a proportional response,’ he said.
He insisted the country work to build trade with South America, Africa and ‘especially’ China.
This, he said, would help replace the potential loss of exports to the US, adding: ‘The world is much bigger than the Trump Administration thinks.’
