The package includes 7.4 billion euros of new financing, and the remaining amount will be obtained thanks to existing tools such as loans preferences.
The Spanish government aims to introduce a plan worth 14.1 billion euros to ease the influence of new US tariffs on the Spanish economy. It was announced on April 3 by Spain’s Prime Minister Pedro Sanchez, Reuters reported.
According to him, the package will include 7.4 billion euros of new financing, and the remaining amount will be obtained thanks to the available tools such as loan preferences.
Sanchez also asked the European Commission to create a funding funding fund from tariffs for imports from the United States, which would increase in response to, as he said, an unfriendly and unreasonable step.
He also turned to the EU with a request to resolve a more flexible approach to providing large -scale internal assistance to affected industries, for example, the automotic industry.
“The tariff of this US administration does not make a difference between friends and enemies, does not deepen against the basis of ideology or trade balance; it is directed against everything and all,” said Spain’s Prime Minister.
According to the Spanish economy minister, Carlos Kurlerpo, Spanish proposals were a “safety net, which in the short term will protect those faced with collapse as a result of a number of tariffs declared by the US president, including a 20 percent tariff for imports from the EU.
Kuerpo added that the European Union is striving for negotiations to avoid a trade war, however, if there is no opportunity for negotiations, there are a need to take response steps.
Remember, on April 2, Trump announced the introduction of major duties to imported goods. He called it America’s “Day of Liberation”.
According to European Commission chairman Ursula Von der Lyan, tariffs have declared US President Donald Trump, “seriously hit the global economy.” The European Union is preparing retaliation measures.
Starmer says how Britain will answer Trump’s new duties
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.