When Donald Trump speaks about Europe, the world braces for a mix of bravado, bluster and breathtaking ignorance.
His latest claim is that Spain’s economic success is thanks to ‘what we’ve done’ in the United States.
But let’s be honest, Spain’s recovery and resilience have occurred despite Trump’s policies, not because of them.
In a recent Oval Office tirade, Trump accused Spain of ‘failing to meet NATO spending commitments’ and went so far as to suggest that the country should be expelled from the alliance.
That threat, absurd as it was, came hand-in-hand with his boast that Spain’s economy was ‘doing well because of what we’ve done.’ The arrogance is laughable.
Spain’s economy has been growing steadily since long before Trump’s return to the White House.
The country’s GDP is expanding faster than the eurozone average, unemployment is at its lowest level in 15 years and exports are surging, particularly in renewable energy, automotive manufacturing and tourism. None of this has anything to do with Washington.
In 2024, Spain’s economy expanded by 3.2%, well above euro-area norms. For 2025, forecasts remain strong, with the European Commission expecting 2.6 % growth.
The General Council of Economists in Spain has also raised its own 2025 projection to 3.0%, citing sustained internal demand and robust job creation.
Meanwhile, S&P Global recently upgraded Spain’s sovereign credit rating to A+ from A, citing improved external finances, high private sector savings, strong exports, and diminished vulnerability to external shocks.
Shortly thereafter, Moody’s elevated Spain from Baa1 to A3, praising progress in labour markets, banking sector stability, and a more balanced growth model.
Fitch also upgraded Spain from A- to A, projecting real GDP growth of 2.7% in 2025 and 2.0 % in 2026 – better than many had dared to expect.
Reuters flagged this ‘double upgrade’ as evidence that Spain’s growth has outpaced many European peers, and that investor confidence is strengthening.
What’s driving Spain’s success is its own blend of innovation and hard work.
Spanish companies are leading the green transition across Europe. Its banks (once the weak link of the euro crisis) are now among the continent’s most stable.
The country has become a magnet for foreign investment, digital nomads, and start-ups, all drawn by a blend of affordability, lifestyle, and strategic EU incentives.
If anything, Trump’s economic nationalism has been a drag on Europe. His trade wars, tariffs, and anti-EU rhetoric have rattled markets, strained supply chains, and made cooperation harder at a time when global stability is more important than ever.
Spain’s thriving economy isn’t the result of American trickle-down, it’s a testament to its own adaptability and European solidarity.
Spain is far from perfect. Youth unemployment remains high, housing affordability is a crisis, and political polarisation runs deep.
But to credit its growth to the whims of an American president who has repeatedly insulted NATO allies and undermined multilateral cooperation is both disingenuous and insulting.
Read more Andalucia news at the Spanish Eye.
