diff --git a/pkg/model/spotinstmodel/instance_group.go b/pkg/model/spotinstmodel/instance_group.go
index dd9ac22172..bf307898f7 100644
--- a/pkg/model/spotinstmodel/instance_group.go
+++ b/pkg/model/spotinstmodel/instance_group.go
@@ -476,6 +476,12 @@ func (b *InstanceGroupModelBuilder) buildLaunchSpec(c *fi.ModelBuilderContext,
 		return fmt.Errorf("error building security groups: %v", err)
 	}
 
+	// Tags.
+	launchSpec.Tags, err = b.buildTags(ig)
+	if err != nil {
+		return fmt.Errorf("error building cloud tags: %v", err)
+	}
+
 	// Labels.
 	autoScalerOpts, err := b.buildAutoScalerOpts(b.ClusterName(), ig)
 	if err != nil {
diff --git a/upup/pkg/fi/cloudup/spotinsttasks/launch_spec.go b/upup/pkg/fi/cloudup/spotinsttasks/launch_spec.go
index c33da11ea3..5f0d4d189d 100644
--- a/upup/pkg/fi/cloudup/spotinsttasks/launch_spec.go
+++ b/upup/pkg/fi/cloudup/spotinsttasks/launch_spec.go
@@ -43,6 +43,7 @@ type LaunchSpec struct {
 	SecurityGroups     []*awstasks.SecurityGroup
 	IAMInstanceProfile *awstasks.IAMInstanceProfile
 	ImageID            *string
+	Tags               map[string]string
 	Labels             map[string]string
 
 	Ocean *Ocean
@@ -167,6 +168,16 @@ func (o *LaunchSpec) Find(c *fi.Context) (*LaunchSpec, error) {
 		}
 	}
 
+	// Tags.
+	{
+		if len(spec.Tags) > 0 {
+			actual.Tags = make(map[string]string)
+			for _, tag := range spec.Tags {
+				actual.Tags[fi.StringValue(tag.Key)] = fi.StringValue(tag.Value)
+			}
+		}
+	}
+
 	// Labels.
 	if spec.Labels != nil {
 		actual.Labels = make(map[string]string)
@@ -265,6 +276,13 @@ func (_ *LaunchSpec) create(cloud awsup.AWSCloud, a, e, changes *LaunchSpec) err
 		}
 	}
 
+	// Tags.
+	{
+		if e.Tags != nil {
+			spec.SetTags(e.buildTags())
+		}
+	}
+
 	// Labels.
 	{
 		if e.Labels != nil && len(e.Labels) > 0 {
@@ -366,6 +384,15 @@ func (_ *LaunchSpec) update(cloud awsup.AWSCloud, a, e, changes *LaunchSpec) err
 		}
 	}
 
+	// Tags.
+	{
+		if changes.Tags != nil {
+			spec.SetTags(e.buildTags())
+			changes.Tags = nil
+			changed = true
+		}
+	}
+
 	// Labels.
 	{
 		if changes.Labels != nil {
@@ -474,6 +501,18 @@ func (_ *LaunchSpec) RenderTerraform(t *terraform.TerraformTarget, a, e, changes
 		tf.IAMInstanceProfile = e.IAMInstanceProfile.TerraformLink()
 	}
 
+	// Tags.
+	{
+		if e.Tags != nil {
+			for _, tag := range e.buildTags() {
+				tf.Tags = append(tf.Tags, &terraformKV{
+					Key:   tag.Key,
+					Value: tag.Value,
+				})
+			}
+		}
+	}
+
 	// Labels.
 	{
 		if e.Labels != nil {
@@ -493,3 +532,16 @@ func (_ *LaunchSpec) RenderTerraform(t *terraform.TerraformTarget, a, e, changes
 func (o *LaunchSpec) TerraformLink() *terraform.Literal {
 	return terraform.LiteralProperty("spotinst_ocean_aws_launch_spec", *o.Name, "id")
 }
+
+func (o *LaunchSpec) buildTags() []*aws.Tag {
+	tags := make([]*aws.Tag, 0, len(o.Tags))
+
+	for key, value := range o.Tags {
+		tags = append(tags, &aws.Tag{
+			Key:   fi.String(key),
+			Value: fi.String(value),
+		})
+	}
+
+	return tags
+}
diff --git a/upup/pkg/fi/cloudup/spotinsttasks/ocean.go b/upup/pkg/fi/cloudup/spotinsttasks/ocean.go
index 166c5a8cd6..e989c90e81 100644
--- a/upup/pkg/fi/cloudup/spotinsttasks/ocean.go
+++ b/upup/pkg/fi/cloudup/spotinsttasks/ocean.go
@@ -951,6 +951,7 @@ type terraformOceanLaunchSpec struct {
 	KeyName                  *terraform.Literal   `json:"key_name,omitempty"`
 	SecurityGroups           []*terraform.Literal `json:"security_groups,omitempty"`
 	Labels                   []*terraformKV       `json:"labels,omitempty"`
+	Tags                     []*terraformKV       `json:"tags,omitempty"`
 }
 
 func (_ *Ocean) RenderTerraform(t *terraform.TerraformTarget, a, e, changes *Ocean) error {