The Spanish newspaper El Mundo has revealed concerns within economic circles in Madrid over the consequences of the customs measures announced by U.S. President Donald Trump, particularly with the possibility of Morocco benefiting from these measures, according to the analysis of a number of economic experts.
According to a report published by El Mundo, experts believe that Morocco may be viewed by investors and multinational companies as a more attractive destination than Spain for directing exports to the American market, thanks to the reduced customs tariffs imposed by the U.S., which amount to only 10%, compared to the 20% imposed on Spanish exports.
The Spanish newspaper warned, quoting experts, that this difference in tariffs gives Morocco a clear competitive advantage in vital industrial sectors that intersect with sectors in which Spain seeks to attract investment—such as automobiles, fertilizers, and electrical equipment—sectors in which Moroccan exports pose a direct threat to their Spanish counterparts in the U.S. market.
El Mundo pointed out that the economic environment has become more volatile under the protectionist policies imposed by Trump, pushing many companies to review their production and supply chains and to seek out countries with more flexible trade agreements with Washington, such as Morocco, which has had a free trade agreement with the United States since 2005.
According to experts consulted by El Mundo, Morocco is not only attractive due to its lower tariffs, but it has already begun attracting shipping traffic away from Spanish ports due to its more flexible regulations, especially in the field of sustainability—an additional factor contributing to its competitiveness over Madrid in transportation and export chains.
In this context, the report highlighted the statements of tax expert Mar Guadalupe from Andersen, who warned that the restructuring of supply chains is not a temporary or passing matter, but could take decades. She added that Morocco is now considered "a preferred partner of the European Union and a major partner of the United States," which enhances its role as a commercial intermediary between the two sides.
The report also noted that some Spanish sectors—particularly agriculture—have begun seriously looking at investing or expanding in Morocco, given the available incentives and economic feasibility, which signals a potential "industrial migration" that could result in Spain losing part of its production strength.
Javier Díaz-Giménez, a professor at IESE Business School, warned in remarks to El Mundo that Spanish companies may find themselves compelled to reconsider their positioning, noting that investment in countries with lower tariffs will be more attractive, especially if expanding existing production there is easier than building from scratch.
The report explained that Spain, which has long been a strategic transit point in export chains to the United States, now faces the risk that these supply chains may shift toward Morocco—causing Madrid to lose one of its key economic roles in the southern Mediterranean region.
