The Spanish government announced a €14.1 billion plan to mitigate the impact of US tariffs. This includes €7.4 billion in new funding and €6.7 billion from existing resources.
The plan also involves social dialogue, consultations with regional governments and political parties, and a special framework for state aid.
The government will establish a social dialogue table, convene the Sectoral Conference on Trade, and engage in discussions with parliamentary groups. The initiative will also include a fund for affected sectors and rechanneling of €5 billion from the Recovery and Resilience Plan. The prime minister emphasized that this response is essential given the combined economic pressures of the war in Ukraine and the new US trade war.