CoinWorld News reports that on March 4th, U.S. President Trump threatened to impose a comprehensive trade embargo on Spain. This comes after the European and NATO allies refused to allow U.S. military bases in Spain to be used for missions related to Iran. Trade law scholars stated that, according to the IEEPA basis that the Supreme Court rejected last month for several of Trump's tariffs, Trump indeed has the authority to impose a trade embargo. However, he must declare a national emergency and determine that Spain poses an "unusual and extraordinary" threat to the United States. The Spanish government issued a statement in response, saying that the U.S. must respect the autonomy of private enterprises, international law, and the U.S.-EU bilateral trade agreements.