The Eu’s New Approach to Steel Reshapes the Balance of International Trade (01/07/2026)
The European steel industry has entered a phase of reviewing trade safeguards, coinciding with a period of adjustment in international flows. The European Commission has amended the conditions governing steel imports by establishing a tariff-rate quota of 18.3 million tonnes. Once this threshold is exceeded, the applicable tariff will rise from 25 % to 50 %. The EU measure is intended to mitigate distortions in a global market characterised by production overcapacity.
The context for this regulatory change is structural: global steel production capacity exceeds current demand levels, directly affecting price formation. Macroeconomic projections estimate a 6.7 % increase in installed capacity over the medium term, driven by developments in Asian markets. This volume of external supply constrains the operations of the EU steel sector and affects industrial activity indicators documented since 2018.
At the same time, implementation of these measures coincides with the entry into force of the trade agreement reached with the United States in Turnberry, aimed at stabilising bilateral tariff relations. Although the EU has agreed to a uniform 15 % tariff on a significant share of its exports to the US market, the United States continues to apply specific tariffs to steel and aluminium imports. This tariff structure reflects a trend towards trade regionalisation, in which different jurisdictions are deploying trade defence instruments that are reshaping the architecture of cross-border exchanges.
The EU’s new approach to steel reshapes the balance of international trade – Mundiario
International Trade Consolidates its Position as one of the Drivers of E-Commerce in Spain (08/07/2026)
Spain’s e-commerce sector is undergoing a structural shift in which operational internationalisation has become a key driver of expansion. Recent logistics indicators show that cross-border trade has become a decisive factor in the growth of the business sector. This diversification reflects the increasing interconnectedness of markets, where international competitiveness depends on the efficiency and reliability of external supply chains.
In this operating environment, logistics management serves as a strategic component of international transactions. Sector data indicate that 80 % of companies identify delivery and returns policies as essential to completing transactions, while 77 % of users make cross-border purchases conditional on the reliability of the logistics provider. At the same time, 95 % of Spanish digital consumers favour convenience-based models, requiring greater flexibility in last-mile distribution operations.
This internationalisation of e-commerce entails an adjustment of distribution infrastructure. Hybrid models and alternative delivery solutions are being adopted increasingly, with 41 % of users relying on collection points to manage returns, a key mechanism for optimising costs and lead times in international distribution networks. For Spanish operators, international expansion requires not only a competitive commercial offering but also the support of international logistics networks capable of ensuring technical efficiency and compliance with operating standards in destination markets.
Dubai and London Strengthen ties to Boost Global Diamond Trade (08/07/2026)
The Dubai Diamond Exchange (DDE) and the London Diamond Bourse (LDB) have signed a Memorandum of Understanding to structure bilateral cooperation in international diamond trade. The agreement establishes an institutional framework designed to standardise trading processes, identify operational synergies and facilitate the exchange of technical and regulatory information between the two jurisdictions.
The agreement has been concluded against a backdrop of regulatory adaptation in the precious metals and gemstones industry, shaped by new traceability requirements and the reconfiguration of global supply chains. As the only exchange in the Gulf region affiliated with the World Federation of Diamond Bourses, the DDE serves as a logistics hub between producing jurisdictions and destination markets, having recorded transactions exceeding one billion carats over the past five years.
The signatories have stated that the agreement is intended to optimise operational coordination under the current international regulatory framework. Technical cooperation between the Dubai and London markets is designed to harmonise industry procedures, facilitate compliance with customs regulations and ensure both physical and documentary traceability in cross-border transactions.
Dubai and London strengthen ties to boost global diamond trade – Grupo Duplex
Global Diesel Market enters a New Phase of Redistribution (09/07/2026)
International trade in middle distillates is undergoing structural adjustment, altering traditional export and import flows in response to the current macroeconomic environment. Variations in inventory availability from established producing jurisdictions have prompted key importing regions — such as Europe, the Mediterranean basin and Latin America — to diversify their supply base. As a result, maritime transport routes are being reconfigured, with increased interregional movements between the Americas, Europe, Asia and the Middle East, aimed at optimising logistics and mitigating supply-shortage risks.
In this reshaping of energy flows, the European market is prioritising strategies to ensure inventory stability. The restructuring of supply has increased the volume of spot transactions, in a context where logistical variations directly affect regional price differentials. At the same time, the Americas and Asia are increasing their participation both as cargo origins and destinations. This geographical diversification reduces exposure to single routes, but introduces cost variations arising from longer sea transit times and additional chartering requirements.
Amid this reconfiguration of energy flows, refining infrastructure and distribution networks play a critical role. The reliability of processing facilities, supported by data monitoring and technical maintenance, is essential to operational efficiency. In parallel, maritime logistics operators and storage terminals are introducing management systems capable of absorbing demand fluctuations through real-time traceability and optimisation protocols.
Global diesel market enters a new phase of redistribution – Inspenet
How the strait of Hormuz Crisis is Reshaping Global Trade (09/07/2026)
International maritime traffic is undergoing logistical adjustments as a result of the operational situation in the Strait of Hormuz, a geostrategic corridor through which approximately 20 % of the world’s crude oil trade passes. Although supply infrastructure has shown an ability to adapt through the use of alternative routes such as Saudi Arabia’s East-West Pipeline, the release of strategic reserves and the diversification of supply sources in Asia, the current regional situation has delayed the prospect of short-term operational stabilisation.
Analysts in the commodities sector indicate that these disruptions to maritime transport will lead to structural changes in the planning of international supply chains. Recent events affecting navigational security have influenced the calculation of insurance premiums and route scheduling by shipping operators, resulting in longer transit times and changes in freight costs. Restoring normal trade flows requires viable operating conditions for shipowners and insurers, which in turn calls for flexible logistics strategies in response to the current redistribution of maritime corridors.
The macroeconomic impact of this reconfiguration varies by region, with economies that are highly dependent on external supplies affected most severely. According to UNCTAD data, 61 countries — predominantly net importers of hydrocarbons and agricultural products — are experiencing direct increases in freight and energy costs, variables that affect their price indices and trade balances. This operating environment is increasing the interest of international companies and public authorities in implementing risk-mitigation mechanisms, reducing exposure to single routes and promoting diversified supply chains.
How the Strait of Hormuz crisis is reshaping global trade – Swissinfo
India begins tour in Spain to accelerate Trade Agreement with the EU (13/07/2026)
India’s Minister of Commerce and Industry, Piyush Goyal, has begun a series of institutional and corporate meetings in Spain aimed at advancing the free trade agreement between India and the European Union. The official agenda in Madrid, which has included meetings with the ministers responsible for the economy, industry and foreign affairs, has focused on assessing the treaty’s regulatory impact on sectors with high trade volumes, including automotive, industrial machinery and agri-food.
The regulatory framework, formalised in January, is intended to facilitate access to a combined market of two billion consumers through the technical removal of tariff barriers on 90 % of customs tariff lines. Spain’s Directorate-General for Trade Policy at the Ministry of Economy has highlighted the technical significance of the agreement for gaining access to a jurisdiction with a historically stringent tariff regime, noting that implementation of the treaty will reduce tariffs that reach triple digits in certain sectors and generate new trade flows for EU operators.
The Indian representative’s diplomatic consultations, with forthcoming stops in Belgium and Finland, are intended to consolidate the legal basis for ratification of the agreement before the end of the financial year, in line with the timetable proposed by the President of the European Commission. Bilateral trade relations are underpinned by an established corporate presence: Spanish companies in the energy, infrastructure and mobility sectors operate in the Indian market, while Indian technology companies continue to expand in Spain. Following the meetings in Madrid, the Indian delegation will take part in the third ministerial meeting of the EU–India Trade and Technology Council (TTC) in Brussels.
India begins tour in Spain to accelerate trade agreement with the European Union – EFEAgro
Trump’s tariffs redraw the Map of Global Trade (14/07/2026)
A recent analysis by BBVA Research indicates that the structure of global trade is undergoing a technical adjustment in response to the latest tariff changes introduced by the United States. Contrary to forecasts of an overall reduction in trade volumes, macroeconomic indicators show that tariff adjustments are acting as a catalyst for the relocation of international supply chains. The data point to a corporate strategy of diversifying production centres and relocating them geographically closer to the US market.
The statistical paper states that for every one-percentage-point increase in tariff rates, US imports from the originating market fall by approximately 2 %. This decline is nevertheless offset through supplier substitution. Under these conditions, import flows from Asia have been redirected to other jurisdictions, with Mexico emerging as the leading exporter to the US market. Bilateral trade between the two North American countries exceeds USD 800 billion a year, supported by geographical proximity and the regulatory framework of the USMCA, thereby reinforcing the operation of nearshoring logistics models.
This restructuring of production is also linked to increased demand for technology goods and equipment for artificial intelligence infrastructure. In this segment, US imports are diversifying towards markets such as Taiwan and Mexico, in line with the new supply-chain security protocols required by the US administration. The report concludes that these measures are fostering a process of economic regionalisation, in which companies prioritise operational continuity and supply-chain risk management in their relocation decisions.
The Eu, Spain and the UK ratify The Gibraltar Treaty and remove The Border Fence (14/07/2026)
The European Union and the United Kingdom have formalised the Gibraltar Treaty, a legal instrument governing the new framework for cross-border relations following the UK’s withdrawal from the EU. Signed in Brussels with the participation of the relevant diplomatic and trade delegations, the agreement provides for the removal of physical checks at the land border to facilitate the movement of people into the Schengen area. Legally, Gibraltar does not become fully integrated into that area, and the United Kingdom retains its powers over residence and asylum, while Spain will assume responsibility for entry controls at port and airport facilities, retaining the power to refuse authorisation on public security grounds.
In customs and trade matters, the treaty provides for the creation of a trading area intended to remove barriers to the overland movement of goods, with Spain designated as the authority responsible for supervising compliance with internal market rules at designated inspection points. To prevent distortions of competition and ensure fiscal control, the local authorities will introduce an indirect tax equivalent to VAT — initially set at 15 % and aligned with Spanish taxation over a 36-month period — and apply special regimes to goods subject to excise duties, such as tobacco. A minimum tax burden and a maximum price differential with the Spanish mainland market will also be established, together with a traceability system aligned with the relevant EU directive.
The change to the border regime will streamline the daily movement of approximately 15,000 cross-border workers, who will be covered by a new social security coordination framework. The legal text also includes provisions for establishing economic cohesion mechanisms in the surrounding area, as well as channels for technical cooperation in policing, judicial matters and anti-money laundering.
Conflict in the Middle East Lowers Business Expectations for Spain’s Export Industry (16/07/2026)
Spain’s external sector is undergoing operational adjustments arising from the regional situation in the Middle East and its impact on international logistics networks. According to the latest quarterly economic outlook report from the Secretariat of State for Trade, 21.8 % of companies expect a downward revision of their order books for the third quarter. This figure, the highest in the past 36 months, illustrates uncertainty in supply-chain planning that is also affecting annual forecasts, with 15.8 % of businesses expecting a contraction in their foreign trade activity.
Changes in export volumes vary considerably by geographical area. In the euro area — the benchmark market for Spanish operators — the expected moderation is 0.2 %; the adjustment in non-EU European markets is 4.2 %, while the sharpest projected fall is in Asia, at 9 %. Flows to the North American market are expected to stabilise. This downward revision of expectations is linked mainly to two operating variables: fluctuations in hydrocarbon prices and higher commodity costs. A total of 81.9 % of companies identify the price of crude oil as the main variable affecting their operations, while 80.6 % cite changes in the cost of industrial metals and agricultural products.
The cumulative increase in energy and transport costs has altered operators’ profitability structures. Of the companies surveyed, 34.6 % report having raised export prices, compressing their operating margins. Specifically, 34.1 % of companies state that their financial margins declined during the second quarter, highlighting the technical challenges involved in absorbing logistics and raw-material costs in the current macroeconomic cycle.
Conflict in the Middle East lowers business expectations for Spain’s export industry – EL PAÍS
Brussels eases The System Penalising CO₂ Emissions following pressure from ten Governments (17/07/2026)
The European Commission has submitted a proposal to update the rules governing the EU Emissions Trading System (ETS), the fiscal mechanism applying to carbon dioxide emissions from industrial installations in the single market. The technical document proposes restructuring the emissions-reduction trajectory in line with current macroeconomic and energy conditions. Whereas the existing regulatory requirement provides for an annual reduction of 4.4 % until 2030, the new proposal sets the rate at 3.7 % for the period to 2035 and 1.7 % in subsequent years, giving industrial operators a broader timeframe for their transition plans.
Alongside the amendment of the adjustment timetable, the Commission proposes introducing, from 2036, an offsetting system based on certified international credits. This legal mechanism would give industrial entities additional flexibility of up to 2 % in their carbon balance, subject to technical verification of decarbonisation investments made outside the EU. The EU institutions state that the regulatory revision is intended to safeguard the external competitiveness of European industry and maintain regulatory symmetry with operators based in third countries, against a backdrop of volatility in global energy markets.
The proposed text reflects the diversity of Member States’ energy mixes and industrial profiles. Economies with infrastructure heavily based on renewable energy support the original timetable, while jurisdictions with a high concentration of energy-intensive industry have backed the greater flexibility of the new regulatory framework. The draft, which has entered the legislative process in the European Parliament and the Council, also includes specific corporate requirements, such as the mandatory allocation of 50 % of auction revenues to clean industrial investment, and brings municipal waste incineration within the scope of the ETS from 2031.
Brussels eases the system penalising CO₂ emissions following pressure from ten governments – EL PAÍS
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In Madrid, 31 July 2026
Intrenational Trade and Santions Department
Lupicinio International Law Firm
