"The change in the current trade scheme for aluminium and steel would be detrimental to the productive fabric in aggregate terms," the lobby said in its note, adding that Spain's total cast iron and steel exports to the U.S. reached 944 million euros ($977 million) in 2023.

Just a few days after easing tariffs on Canada and Mexico, President Trump stunned trade watchers by applying a comprehensive package of tariffs on imported steel and aluminium. He announced that all steel and aluminium imports into the US would face a hefty 25 per cent tariff during a trip to New Orleans for the Super Bowl.

Existing American tariffs already restrict steel and aluminum shipments from China, which is now flooding other markets with its exports instead.