Support Plan of 14.1 billion euros, for areas to be affected by duties announced by US President Donald Trump, its prime minister presented SpainPedro Sanchez.
At the same time, the Spanish prime minister said today (3.4.2025) that the increase in US duties is a unilateral attack by President Donald Trump on the link between the United States and the European Union, saying that this is not an intelligent way of dealing with today’s challenges.
This measure is a return “in the 19th century protectionism, which, in my opinion, is not an intelligent way to meet 21st century challenges in a interconnected world,” the prime minister said.
This measure is also based on an assessment does not respond to the truth, the Spanish government leader insisted, who challenged Donald Trump in his intervention yesterday.
The US president, who announced 20% customs duties on all products imported by the European Union, said the EU is applying 39% customs duties to US products.
“This is not true. In fact, if we look at the numbers well, the European Union applies duties around 3%, as appropriate, “said Sanchez, who called on the EU to react” proportionally “and” with unity “.
Today, “Europe is stretching its hand, and this will always do, because the American people, beyond governments, is a friend (…) but that doesn’t mean we will be crossed with arms,” he warned.
Donald Trump’s announcement raises lively concerns in European economic circles, including Spain – although the country is less exposed than some of its neighbors in this increase in duties, according to experts.
In order to help the affected sectors, especially in the agricultural sector, Pedro Sanchez announced a “today” a € 14.1 billion support plan, of which five billion would come from the European Remove Refund after the Covid-19.
This plan will mainly include a financial mechanism that will allow businesses most affected by the trade war to maintain their employees’ jobs until they return to their normal activity, he explained.
Pedro Sanchez also said that he would ask the European Union to set up a fund funded by US duties, which will increase in response to the increase in US duties.
Source: RES – EIA