Catalan president calls meeting of social and economic leaders to ready response to Trump's tariffs

Catalan president Salvador Illa has called key social and economic figures to government headquarters in Barcelona to "formulate a response" to tariffs announced by the United States. 

"I will convene social and economic leaders at the Palau de la Generalitat to formulate a response to the tariffs imposed by Donald Trump. We must defend Europe above ideologies," Illa posted on X (formerly Twitter). 

The meeting, which had already been requested by social and economic stakeholders, will take place on Monday at 10am, a government source confirmed on Thursday morning. It is expected that the main trade unions and employers' associations will attend. 

US president Donald Trump announced 10% tariffs on nearly all products entering the country, starting April 5, with higher tariffs on exports from some of the US's main trading partners from April 9. 

On Wednesday, Trump presented a poster with a table outlining the new tariffs and the affected countries, including a 20% tariff on all 27 EU member states, 34% on China, and 26% on India. 

Catalonia's presidency minister Albert Dalmau warned against "internal confrontations" and called for politicians and society to "remain united" in response to the tariffs. 

"Every tariff is a new border, it's an economic and social setback, and it introduces more division and instability," Dalmau told the media on Thursday.

Spain activates "commercial and financial measures" 

The Spanish government expressed its "deep regret" over the announcement of universal tariffs by Donald Trump and confirmed in a statement on Thursday morning that it will activate "commercial and financial measures available" immediately. 

The move aims to "implement an immediate protection network and a strategy to revitalize the affected sectors," and send a "message of confidence" to the public. 

Spanish prime minister Pedro Sánchez's €14.1 billion "response plan" unveiled on Thursday afternoon, will "complement" the European Commission's plan, the statement said. 

In an interview with Spanish state broadcaster RNE, economy minister Carlos Cuerpo stated that the plan will be implemented in collaboration with social leaders, affected sectors, regional governments, and parliamentary groups. 

World's largest trade relationship

The tariffs will primarily affect "US citizens and businesses," but also "the global economy and financial markets, with consequences that are still difficult to estimate," according to the government statement. 

The Spanish executive emphasized that Europe has always supported a negotiated solution and continues to do so: "We must protect the world's largest trade and economic relationship." 

"Every day, €4.4 billion in goods and services trade cross the Atlantic between the United States and the European Union, and foreign investment totals €100 billion in each direction." 

The Spanish government is preparing measures to protect sectors vulnerable to US tariffs, including the wine, agriculture, automotive, and metal industries.

EU "prepared" 

European Commission president Ursula von der Leyen warned on Thursday that Donald Trump's tariffs will have "devastating consequences" and that the global economy will suffer "massively." 

The EU is "prepared" to respond, she said, defending the European Single Market as a "safe haven" for businesses and consumers. 

Stocks fall 

Spain's leading stock index, the Ibex 35, opened with losses of over 1.5% before quickly recovering some ground, with the decline settling around 1%. 

Major banks saw the biggest drops, such as Caixabank (-3.89%), Santander (-3.69%), Bankinter (-3.3%), and Unicaja (-3.13%). 

Stock markets in Germany, France, the UK, and Italy also experience declines ranging from 1% to 2.5% on Thursday morning.

Catalan businesses 'worried and cautious'

Catalan businesses in the northern area of Girona are "worried and cautious," regarding Trump's tariffs, although they highlight it is "still early" to see the full impact of the announcement, Ernest Plana, president of the FOEG business association in Girona, told reporters on Thursday morning.

One thing is for certain, such tariffs will end up "hitting" in one way or another Girona's economy.

"Misfortune for some is beneficial for others," he added, explaining that they can probably find new markets and different business opportunities.

Barcelona port believes in “opportunity to negotiate”

The president of the Port of Barcelona, José Alberto Carbonell, believes there is room for negotiation with the US to reduce the impact of the tariffs.

“There is an opportunity to negotiate, particularly within the EU,” he told the press on Thursday. He added that the tariffs are “very significant,” noting that the US is the second largest export destination for full containers from the Port of Barcelona.

Carbonell also acknowledged that some of the most affected companies are “concerned” about the economic consequences of the trade war, saying that they could now open to other markets.

“We’ve seen this many times before,” he said.