T-MEC review generates trade uncertainty
The revision of the US-Mexico-Canada treaty, scheduled for July 2026, is no longer perceived as a technical process, but as a process of high political and economic risk. The possible tightening of the agreement introduces a new source of trade uncertainty. A review with a sunset clause The T-MEC (or USMCA) incorporates a sunset clause […]
Aid for decarbonization of manufacturing industry
Call for grants to support projects aimed at decarbonizing production processes in the manufacturing industry, through investments that reduce greenhouse gas emissions, improve energy efficiency or incorporate clean technologies. Dates The application period will open on February 6, 2026 at 10:00 a.m. and will end on February 19, 2026 at 2:00 p. m. (Spanish peninsular […]
How will the reduction of tariffs with Mercosur be achieved?
The reduction of tariffs that Mercosur countries will apply to products of European origin will take place progressively over a transition period following the entry into force of the agreement. For many industrial products, this de-escalation may take between 10 and 15 years. The tariff reduction process is structured through Staging Categories, which determine the […]
The EU wants to shield post-Brexit arrangements
The EU and the UK are negotiating a review of their relationship after Brexit, with the aim of giving greater stability to the agreements reached. This process introduces relevant issues in terms of regulatory framework and trade planning. What is the so-called “Brexit reset”? The so-called “Brexit reset” is the process by which the United […]
Main geopolitical risks for 2026
Eurasia Group’s Top Risks 2026 report identifies the main geopolitical and economic threats of the year. The United States emerges as the main source of global uncertainty, while China, Europe and Russia face structural challenges that will reshape the international order. The United States: from guarantor to source of global risk The United States is […]
Prospects for a slowdown in world trade
UNCTAD’s latest outlook points to a marked slowdown in world merchandise trade. Tariff bindings and trade fragmentation point to a reconfiguration of supply chains and greater diversification of trading partners to mitigate policy uncertainty. Merchandise trade will face a significant slowdown in 2026. The key points are detailed below: Engines and specific sectors Electronics and […]
Balance sheet of the global manufacturing sector in 2025
2025 culminated as the second consecutive year with marginal growth in global manufacturing output. While the latest PMI data represents an improvement over 2022 and 2023, the recovery remains tentative and uneven across regions. Performance by region: Asia-Pacific leads Regional analysis reveals clearly differentiated dynamics. ASEAN factories recorded the highest output growth in 2025 on […]
Modification of the programmed training and employment aid framework
Royal Decree 1189/2025 introduces amendments to the regulations governing programmed training in companies and certain subsidies in the field of employment and on-the-job training. Dates The standard becomes effective January 1, 2026. Beneficiaries The measures included in this Royal Decree affect, among others, the following: Industrial companies that manage programmed training for their employees. HR […]
OECD simplifies global minimum tax
The OECD has agreed on a new package of measures to simplify the application of the 15% global minimum tax for large multinational groups. The agreement reduces administrative complexity and introduces greater clarity. What is the global minimum tax and to whom does it apply? The global minimum tax is part of the so-called Pillar […]
Global economic and trade outlook (January 2026)
The beginning of 2026 is taking place against a backdrop of moderate economic growth. On the one hand, global activity remains subdued, with no signs of a generalized recession. On the other hand, European industry remains exposed to weak external demand and high competitive pressure. Euro zone: moderate growth and loss of export quota The […]