Spain to roll out safety net to protect companies, consumers from U.S. tariffs

Spanish Prime Minister Pedro Sanchez is due to announce a package of measures later on Thursday to cushion the impact of new U.S. tariffs on companies and consumers, Economy Minister Carlos Cuerpo said.

The measures will include “a safety net that would, in the short term, protect those who see sales falling” as a result of a raft of tariffs announced by U.S. President Donald Trump on Wednesday, including a 20% tariff on imports form the European Union, Cuerpo told TV channel Antena 3.

The new tariffs are “unfair and unjustified,” he said in a separate interview with radio station RNE.

The European Union is eager to negotiate to avoid a trade war though would have to retaliate if there is no room for negotiation, Cuerpo said.