AseBio participates in the Moncloa meeting with the main business associations to discuss the tariffs proposed by the United States and the possible national response
AseBio will closely monitor developments and analyze the implications that the tariffs imposed by the United States may have on the biotechnology sector, which is crucial for the strategic autonomy of Spain and the European Union.
On April 2, U.S. President Donald Trump announced a series of 20% tariffs on all products from the European Union, in addition to other tariffs tailored to each country that imposes duties on the United States. In response, Spanish Prime Minister Pedro Sánchez announced on Thursday, April 3, the immediate implementation of the "Response and Trade Reactivation Plan" in a meeting that included the participation of business associations from the main sectors affected by these tariffs, among them AseBio.
The plan presented by Sánchez is based on a strategy that will mobilize €14.1 billion to minimize the negative impact of the trade war initiated by the United States and to strengthen the Spanish economy.
In its first phase, focused on supporting businesses and protecting employment, the plan includes two lines of guarantees and financing through the ICO (Official Credit Institute) totaling €6 billion. This aims to facilitate access to credit for companies harmed by the U.S. tariffs. Additionally, €200 million from the Industrial Productive Investment Support Fund will be allocated to loans for the modernization and creation of new productive infrastructure.
The plan also includes a series of political measures. A social dialogue table will be established with unions and business representatives to assess the needs of the sectors affected by the tariffs. Furthermore, the Sectoral Trade Conference will convene with the autonomous communities, and the Minister of Economy, Trade, and Business, Carlos Cuerpo, will conduct a round of consultations with parliamentary groups before addressing Congress.
The second line of action of the plan focuses on boosting the sectors most affected by the tariffs. In this regard, Sánchez announced the creation of an aid fund financed by revenue generated from EU tariffs. Additionally, a special State Aid framework will be introduced to allow for greater flexibility in national support initiatives. Finally, €5 billion from the Recovery and Resilience Plan (which manages post-pandemic EU funds) will be reallocated to help affected companies diversify their production and shift toward high-demand sectors.
AseBio will continue to closely monitor developments and analyze the implications that the tariffs imposed by the United States may have on the biotechnology sector. Furthermore, we stand ready to assist the government by providing our expertise in order to contribute to the development of an accurate assessment of the impact of these tariffs on our industry, which is key to the strategic autonomy of Spain and the European Union.