Spain Unveils €14.1 Billion Plan to Counter U.S. Tariffs

Spanish Prime Minister Pedro Sanchez announced a €14.1 billion plan to mitigate the effects of new U.S. tariffs. The plan includes €7.4 billion in new financing, with the rest coming from existing mechanisms. The initiative aims to shield the Spanish economy from potential adverse impacts.

In response to the newly imposed U.S. tariffs, Spanish Prime Minister Pedro Sanchez has introduced a comprehensive €14.1 billion plan aimed at safeguarding the national economy. He announced on Thursday that the strategy involves €7.4 billion in new financing.

The remaining funds will be sourced from existing financial mechanisms. This decisive measure underscores the government's commitment to protecting Spanish economic interests in the face of international trade challenges.

The introduction of these tariffs highlights ongoing global trade tensions, with Spain striving to minimize negative economic repercussions.

(With inputs from agencies.)