Pakistan, April 3 -- Spain's government has announced a 14.1 billion-euro ($15.66 billion) plan to mitigate the impact of new U.S. tariffs. Prime Minister Pedro Sanchez revealed that the package would include 7.4 billion euros in new financing, with the rest coming from existing funds. The government aims to protect sectors affected by U.S. tariffs, such as the car industry.

Sanchez has also called on the European Commission to create a fund financed by tariff revenues from U.S. imports. This would help soften the economic blow and provide support to industries facing reduced sales due to the new tariffs. Additionally, Sanchez seeks EU approval to allow more flexibility for domestic aid to affected sectors.

The new tariffs, announced by...