Published by Global Banking & Finance Review®
Posted on April 7, 2025
1 min readLast updated: January 24, 2026
Add as preferred source on GoogleSpain proposes a €14.1B aid plan to counter US tariffs, urging EU support. EU ministers discuss retaliatory measures on US imports.
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 finance 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)
(Reporting by Inti Landauro. Writing by Emma Pinedo)
The main topic is Spain's proposal for an EU-backed aid plan to support industries affected by US tariffs.
Spain has proposed a financial package worth €14.1 billion to aid industries impacted by US tariffs.
The EU is considering countermeasures on $28 billion of US imports and discussing retaliatory tariffs.
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