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Catalonia to Mobilize €1.5 Billion to Counteract Trump’s Tariffs
The Catalan government is set to allocate €1.5 billion to mitigate the effects of tariffs imposed by U.S. President Donald Trump. This package, confirmed by the government and reported by Catalunya Radio, includes grants, loans, investments, advisory services, and various other measures.
The initiative was announced by the President of the Generalitat, Salvador Illa, who will present the defense plan at noon after consulting with social and economic stakeholders earlier that day. The socialist government estimates that the 20% tariff imposed by Trump will impact Catalan exports to the United States, totaling €4.35 billion, affecting 3,161 exporting businesses.
The plan’s primary goal is to "protect the resilience of Catalonia’s business and agricultural sectors," and to safeguard the jobs they generate. It also aims to "boost Catalan companies by promoting their internationalization and strengthening their positions in global markets." To achieve this, the government will implement five key measures to reduce the negative impact of the tariffs.
Loans, Grants, and Advisory Support
A significant portion of the funds, €300 million, will be dedicated to offering grants, international promotion, and expanding the global presence of Catalan companies. Specifically, this will target the agri-food sector.
Additionally, the government will work with the Institut Català de Finances (ICF), the Generalitat’s public bank, to provide €900 million in loans and credit. These funds will assist affected businesses through guarantees, revolving credits, investment loans, and interest rate subsidies of up to 1.5%.
Another €150 million will go towards investment funds, administered through ICF and Avançsa, the public entity promoting Catalan business ecosystems. Furthermore, €200 million will fund communication campaigns aimed at boosting the visibility of Catalan products in key markets.
For advisory services, €130 million will be used to diversify the markets for Catalan businesses and facilitate their international growth. This will include adapting plans to the new U.S. regulations, restructuring ACCIÓ’s international offices, and providing tools to overcome trade barriers. Public-private programs will also be funded to support companies entering the export sector.