{"id":156083,"date":"2026-06-11T09:00:15","date_gmt":"2026-06-11T07:00:15","guid":{"rendered":"https:\/\/mallorcaglobalmag.es\/?p=156083"},"modified":"2026-06-11T10:33:16","modified_gmt":"2026-06-11T08:33:16","slug":"guerra-trump-efectos-economicos-balears-aleix-calveras","status":"publish","type":"post","link":"https:\/\/mallorcaglobalmag.es\/en\/guerra-trump-efectos-economicos-balears-aleix-calveras\/","title":{"rendered":"Trump\u2019s war and its economic effects in the Balearic Islands"},"content":{"rendered":"

\"Aleix<\/p>\n

Another disaster of the Trump administration. A humanitarian, political and economic disaster. The war between the United States and Iran creates potentially worse economic effects than those arising from its tariff policy. The key, of course, lies in the duration of the war. If it ends quickly, the damage will be significant but limited. If it drags on, the consequences could be very serious for the international economy.<\/p>\n

The economic logic is clear. With the blockade of the Strait of Hormuz, the supply of oil and gas is reduced, leading to a rise in prices. And when the cost of energy increases, many other costs rise as well. The result: higher inflation, lower growth and, over time, the risk of a near-stagnant economy with high prices. In addition, with higher inflation, central banks may decide to set higher interest rates, adding a further twist to the economic slowdown.<\/p>\n

Seen from Mallorca, the impact is evident. As energy prices rise, it becomes more expensive to fly, transport goods and sustain an island economy dependent on external markets. This affects business costs, the price of many products and tourism, because more expensive flights and weaker activity in source markets may dampen demand for travel to the Balearic Islands. At the same time, however, the proximity of the conflict to competing destinations such as Turkey may divert part of European tourism towards destinations perceived as safer. For this reason, the net effect on the islands\u2019 tourism is, a priori, somewhat ambiguous.<\/p>\n

What should governments do in the face of this global energy shock? Both the Spanish and Balearic governments have responded with broad-based measures, above all tax cuts aimed at reducing the cost of fuel, electricity and gas, together with reductions in other energy-related taxes. In addition, they have introduced targeted actions: support for particularly exposed sectors, assistance for transport, incentives for energy efficiency, liquidity lines for businesses and other measures aimed at supporting the most vulnerable groups and activities. Taken together, this amounts to a package of considerable scale, valued at more than \u20ac5 billion.<\/p>\n

My assessment is mixed. It makes sense to protect vulnerable households and to provide temporary support to highly exposed sectors, such as transport, in order to ensure their sustainability and limit second-round effects on the rest of the economy. But it does not make sense to conceal, in a general and sustained way, that energy is now scarcer and more expensive. That cost exists; it does not disappear simply because the State assumes it \u2014 it only changes who pays. Policies that distort price signals hinder the necessary adjustment by households and businesses, preventing the economy from adapting to the new reality.<\/p>\n

\n

\"Mallorca<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Another disaster of the Trump administration. A humanitarian, political and […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":112313,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1611,1512],"tags":[],"class_list":["post-156083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aleix-calveras-en","category-opinion-en"],"yoast_head":"\nTrump\u2019s war and its economic effects in the Balearic Islands - Mallorca Global Mag<\/title>\n<meta name=\"description\" content=\"Economics professor Aleix Calveras examines the consequences of the war between the United States and Iran for the Balearic economy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mallorcaglobalmag.es\/en\/guerra-trump-efectos-economicos-balears-aleix-calveras\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump\u2019s war and its economic effects in the Balearic Islands - 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