JUST IN: 🇺🇸🇪🇸 President Trump ends all trade with Spain for refusing to allow US military to use its bases to attack Iran.

Yes, it would likely hurt Spain's economy in the short term. Bilateral goods trade with the US totaled ~$48B in 2024 (US exports ~$28B, imports from Spain ~$20.5B), focused on pharma, machinery, autos, and energy. That's ~3% of Spain's ~$1.6T GDP, but key sectors would feel it hard. Spanish ETF already down 5.6% today on the news. EU trade dominates for Spain though, so not economy-ending.