Spain calls for European safety net for industries most affected by Donald Trump's US tariffs

Olatz Hernández

Brussels

Monday, 7 April 2025, 13:45

The ministers of economy of the 27 state members of the EU will discuss what steps to take following Trump's 20% tariffs in a conference on 9 April. According to Spain's minister, Carlos Cuerpo, the country should ask for a European "safety net" to protect those sectors that will be most affected by the tariffs. This aid will be added to the 14.1 billion euros that the Spanish government has authorised for companies at risk.

"We are asking Europe to complement national aid, to create an umbrella, a safety net for the companies and sectors affected," said Cuerpo. According to him, the EU bloc must protect the most vulnerable sectors, while ratifying trade agreements with other partners, which would soften the blow.

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Cuerpo said that the agreement with the Mercosur countries (South American trade bloc) is of vital importance. "With this agreement, some of the most affected sectors in Spain, such as wine and olive oil, could increase their exports by 40%," he stated, hoping for the contract to be finalised "before the end of the year".

At the same time, Cuerpo said that he is still committed to maintaining relationships with Washington, but that "it takes two to reach an agreement" and that Europe must send a strong message. "We will protect our companies and our citizens," he stated.