Despite the adverse international context, Spanish exports of non-energy goods recorded a growth of 1.8% in 2025, above the figures of the previous two years. The vice president highlighted that this behavior is widespread across all sectors, except for the automotive sector, which faces both a structural challenge and the conjunctural impact of tariffs. In his speech, Cuerpo noted that there is a clear impact of the U.S. tariffs (which were introduced in April 2025) on Spanish exports to that market, with a break in the upward trend that had been recorded since the beginning of 2024. However, the pharmaceutical sector and capital goods presented a positive behavior, with exports to the U.S. above the historical average. In the case of olive oil, exports in volume set a record in 2025, with sustained growth once the effect of prices is discounted. Cuerpo emphasized that the decline in nominal terms is due to the price correction after the "good" harvests, not a loss of market. ...