Sánchez will present a "response plan" to Trump today: "We have the tools to protect ourselves."

MadridThe Spanish government is moving to minimize the effects of Donald Trump's new tariffs on the Spanish economy. Pedro Sánchez will present a "response plan" this Thursday and will activate the "trade and financial instruments available to the State to deploy an immediate safety net and a strategy to relaunch the affected sectors," according to sources from the Moncloa (Ministry of Economy and Finance). "We want to convey a message of confidence to the citizens [...] We have the necessary tools to protect the interests of our citizens and businesses," the same sources add.

Sánchez is scheduled to address a group of business leaders and representatives of various sectoral employers' associations to outline the measures his government will implement. The main affected sectors, which will be present at Thursday's meeting, are the automotive, steel, aluminum, and agri-food industries, with the wine and olive oil sectors being the most prominent.

In an interview on RNE this Thursday morning, Economy Minister Carlos Cuerpo called for caution when quantifying the specific impact on the Spanish economy: "It's early," the minister acknowledged. Cuerpo also specified that the State's trade exposure with the United States is "limited" compared to other economies, although he emphasized the "indirect" effects, that is, how it could affect other European partners with which Spain does have significant trade ties, such as Germany. The Spanish government "deeply" regrets the US president's announcement and warns that the tariffs will harm "citizens and companies around the world, unfairly and unjustifiably."

The weight of Spanish exports to the North American country was €18.9 billion in 2024, which represents just under 5% of total sales of goods abroad. In addition to industrial machinery, sectors such as semi-manufactured goods (mainly chemical products) and food, especially oils and fats, as well as wine, stand out. "There is a strong regional component," Enrique Feás, a researcher at the Elcano Royal Institute, explained to ARA. The Basque Country, for example, could be more affected by machinery sales, while Andalusia and Aragon would be penalized by agricultural activity.

At the Catalan level, President Salvador Illa has announced that he will summon social and economic stakeholders to the Generalitat (Catalan Government) this coming Monday morning to "articulate a response" to the US tariffs. "We must defend Europe above ideologies," he stated in a tweet this morning. Sources at the Palau (Central Government of Catalonia) explain that the meeting is open to all members of the Social Dialogue panel, so the meeting will include, in addition to President Illa, the Minister of Business and Employment, Miquel Sàmper, and the leaders of the most significant unions and employers' associations: CCOO, UGT, Foment del Treball, and PIMEC. Furthermore, The government will study this Friday how to respond to the tariff wall., taking advantage of the working meeting he will hold in Núria with the entire executive to review his first half year in office.

Open negotiation

Despite Trump's words, the Spanish government, but also Brussels, are balancing between anticipating a harsh response to Trump and negotiating to rectify the situation: "We hope to enter into a negotiation process that will end with an agreement," said the Minister of Economy, although he acknowledged that "if there is no room to negotiate, we will have to respond." In fact, before Trump's appearance on Wednesday night, the Foreign Minister had held a thirty-minute conversation with US Secretary of State Marco Rubio, in which they discussed "the importance of transatlantic relations."

Any steps Pedro Sánchez may take will come after a meeting held this Wednesday afternoon with the leaders of the CCOO (Working Workers' Union), UGT (Union of Workers), and the Spanish employers' associations CEOE (Economic and Political Economy) and Cepyme (Mexico City). A meeting also attended by up to six ministers, which Spanish government sources explain served to address Trump's possible decisions and the geopolitical situation.

Pressure from the opposition

Following the Spanish government's lead, the People's Party (PP) also emphasized that today "is a day of concern." Speaking at the "Wake up Spain" economic forum, its president, Alberto Núñez Feijóo, welcomed the government's preparation of a response plan to Trump's tariffs in collaboration with social stakeholders, although he asked that the views of the autonomous communities (most of which are governed by the PP) be included. However, he warned that "reacting in haste would be a frivolity that no leader can afford." Furthermore, Feijóo asked Sánchez to inform European partners about the scope of the Spanish president's Asian tour of China and Vietnam next week. "It's a mistake to want to swap the United States for China overnight," he emphasized.

The trade war initiated by Trump is distancing the PP from its partner in most autonomous communities, Vox, which, through its leader, Santiago Abascal, has accused the PP and PSOE of "dragging" the State into a "trade war" with the United States. "The economy competes under unequal conditions due to the bureaucracy of the two-party system," Abascal said on the social network.X.

Feijóo wanted to make it clear that "no patriot can defend someone who harms the interests of citizens." "You can only oppose them clearly and forcefully. Anyone who attacks commercial interests will not have our condescension," Feijóo insisted, denouncing "Vox's conniving silence."