A lot. There are many countries to which the US is actually hostile, and which are much weaker than Spain. Venezuela, Cuba, etc. Places like Russia and China a

A lot. There are many countries to which the US is actually hostile, and which are much weaker than Spain. Venezuela, Cuba, etc. Places like Russia and China also of course exist. Spain could start trying to compete with the US in South America, they could push some kind of EU South America expansion, some kind of EU analogue of BRICS-for-South-America-but-not-BRICS; and of course, if it truly became a problem they could decide to go much further than that and start being actually hostile themselves, joining with the whole RIC part of the thing.