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Today: April 15, 2025
Today: April 15, 2025

Spain pushes to expand aid plan for industries hit by U.S. tariffs

G20 Finance Ministers and Central Bank Governors meet ahead of G20 Summit
April 07, 2025
Reuters - Reuters

MADRID (Reuters) - Spanish Economy Minister Carlos Cuerpo said on Monday he would push the European Union to approve aid for industries hit by US tariffs at a meeting of EU trade ministers to be held that day.

Spain on Thursday was one of the few major economies to offer up a concrete solution to help weather the impact of new U.S. tariffs, offering its companies a financial package of loans and direct aid worth 14.1 billion euros ($15.54 billion).

European Union countries will seek to present a united front against U.S. President Donald Trump's tariffs, likely approving a first set of targeted countermeasures on up to $28 billion of U.S. imports.

The 27-nation bloc faces 25% import tariffs on steel and aluminium and cars and "reciprocal" tariffs of 20% from Wednesday for almost all other goods.

Cuerpo also said the EU ministers will discuss a list of products to be submitted to retaliatory tariffs in response to the ones on steel, aluminium and cars.

($1 = 0.9073 euros)

(This story has been corrected to change finance ministers to trade ministers in paragraph 1)

(Reporting by Inti Landauro. Writing by Emma Pinedo)

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