EU Ministers Unite to Tackle US Tariffs

Spanish Economy Minister Carlos Cuerpo aims to secure EU aid for industries impacted by US tariffs during an EU trade ministers meeting. Spain has proposed a €14.1 billion aid package. EU countries will likely approve countermeasures against US tariffs, with a focus on steel, aluminum, and cars.

In a strategic move to shield industries affected by US tariffs, Spanish Economy Minister Carlos Cuerpo announced he would advocate for EU aid at an upcoming EU trade ministers meeting.

Spain has already taken a bold step, proposing a substantial financial package totaling €14.1 billion to support affected sectors. The European Union aims to present a united front, likely endorsing a suite of targeted countermeasures on up to $28 billion worth of US imports.

The EU faces significant tariff challenges, including a 25% increase on steel, aluminum, and cars imported from the US. Additional 20% reciprocal tariffs are expected on various goods from Wednesday, prompting discussions on products subject to retaliatory tariffs.

(With inputs from agencies.)