Spanish Prime Minister Pedro Sanchez argued that US President Donald Trump brought new customs duties within the scope of mutual tariffs and returned the US to the protectionism of the 19th century.
Sanchez announced the new program that protects Spanish companies under the name of “Commercial Intervention and Restarting Plan” in order to alleviate the negative effects of the trade war initiated by Trump, which brought new customs duties in Spain.
Sanchez said that they would create a shield that protects the Spanish companies economically under both Spain and the European umbrella, and that 7.4 billion of the 14.1 billion euros announced that the new financing and 6.7 billion (5 billion EU funds) will cover different incentives.
In this context, the information that Spanish companies will enter new markets and export to more countries, 2 billion euros for credit insurance and export risk guarantee, and 500 million euros for the internationalization of small and medium -sized companies will be separated.
Sanchez also announced that the “Social Dialogue Desk” was established with employers and workers’ trade unions to determine the needs of the sectors that will be affected by the trade war, and that the “Sectoral Trade Conference” led by Economy Minister Carlos Cuerpo will be collected immediately.
During his speech, the Spanish Prime Minister criticized US President Trump in a harsh language and said:
“We live in a age that is surrounded by people who believe that life is a total war of life. The United States decided to return to the protectionism of the 19th century. The EU imposes 39 percent customs duty to the United States. In fact, it is only 3 percent customs duty. This war will affect the most.”
Sanchez noted that the new customs tariffs brought by the United States are very bad news and that both the US and the EU will be adversely affected, and the EU should accelerate the integration of the single market in areas such as arrangement, digital services and financial flows in the face of the current commercial scenario and to expand the commercial connections with the rest of the world by following the open strategic autonomy principle.
On the other hand, former EU Foreign Relations and Security Policy High Representative Josep Borrell offered Trump to bring additional taxation to American technology companies against new customs tariffs.
