Spain's Strategy against U.S. Tariffs: A 14.1 Billion Euro Shield

Spain is preparing for the economic impact of new U.S. tariffs by announcing a 14.1 billion euro financial aid package. Economy Minister Carlos Cuerpo highlights that while Spain's direct exposure to the U.S. is lower than other EU countries, a global slowdown could indirectly affect Spain's economy.

In response to the economic ripple effects of newly imposed U.S. tariffs, Spain has unveiled a significant financial aid plan. With a package valued at 14.1 billion euros, the Spanish government aims to support its companies in weathering the economic storm.

Economy Minister Carlos Cuerpo expressed concerns on Friday about the potential global repercussions of the tariffs, despite Spain having less direct exposure to U.S. markets compared to other European Union nations. He noted that slower world trade could still impact Spain indirectly.

The Spanish government expects its gross domestic product to grow by 2.6% this year, bolstered by its proactive economic strategies. However, vigilance remains crucial as global trade dynamics fluctuate.

(With inputs from agencies.)