El gobierno activa los primeros 7.720 millones en el plan de respuesta de Trump
The Council of Ministers approved on Tuesday the royal decree to activate the first 7,720 million euros of the Spanish plan to protect the economy from the possible impact of the tariffs announced by the President of the United States, Donald Trump.
The chief executive announced last week to mobilize a total of 14,100 million euros, to alleviate the negative effects of the trade war conducted by the United States «and weave a shield» that protects the Spanish economy.
The Minister of Economy, Trade, and Company, Carlos Corporas, detailed in the press conference after the Council of Ministers that, in all the measures included in the plan, which are activated today with the royal decree of 7,720 million euros.
First, a guarantee of 5,000 million from ICO is activated to meet liquidity needs and support possible industrial reconversion processes for entities that will have a significant exposure, direct or indirect, to the U.S. market.
In addition, the company’s internationalization fund will be consolidated, with an additional margin of 720 million, to ensure that companies can diversify or strengthen their presence in the United States and diversify their exports to reduce the risk of being more resilient.
Finally, 2,000 million are also activated for the internationalization effort, through CESCE and its «CARI» system, which is similar to an interest rate insurance, to support Spanish exports of goods and services.
These measures constitute what the executive has called a «commercial relaunch response plan» and are additional to those adopted by the community bloc to respond to the decision of President Trump to impose tariffs of 20% on the European Union and 25% for all imports of vehicles manufactured abroad.
«We are facing tariffs imposed by the U.S. administration that we consider, clearly, unjustified and, moreover, arbitrary,» said the head of the economy, after warning that the world has been experiencing the greatest «shock» in commercial issues, at least in the last 100 years.
This, according to the body, has quickly moved to market reactions, anticipating a negative effect. In fact, in just one month, the main stock market index in the United States has decreased by 20%.
«This confirms, in our opinion, the error of the approach to enter into trade conflict measures, into protectionist measures and, therefore, into a more fragmented and poorer world,» said the minister.
After the Council of Ministers meeting on Tuesday, the Minister of Economy, Trade, and Company, Carlos Corporas, chaired the first «Inter-Ministerial Commission for Commercial Response and Enjoyment,» which aims to articulate all these measures and ensure their good execution.
Additionally, the body has conveyed the government’s willingness to maintain an attitude of «openness and dialogue» regarding the plan with all the agents that must participate in social dialogue and the social agents, sectors, and parliamentary groups and autonomous communities.
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