Aragón Government Evaluates Impact of Trump's Tariffs on Local Businesses
Aragón government assesses Trump tariffs' effects on local businesses, particularly wine.
Key Points
- • Government evaluating impact of Trump's tariffs on local businesses.
- • Wine industry identified as particularly vulnerable sector.
- • Support for affected sectors increased by 300%.
- • Plans to meet with communities to discuss further measures.
The Government of Aragón is currently assessing the genuine impact of the tariffs imposed by former U.S. President Donald Trump on European Union products, focusing on their effects on local businesses. Mar Vaquero, the regional vice president and counselor of Presidency, Economy, and Justice, indicated that the government had anticipated these tariffs and identified vulnerable sectors, particularly the wine industry, which is facing significant challenges.
In response to these pressures, the regional government held a recent meeting with stakeholders from various wine denominations of origin, the president of Aragón, and representatives from Arex, to discuss and implement measures aimed at supporting affected sectors. Among these actions, the government has notably increased support for local businesses by 300%, with a specific focus on diversifying markets and sales channels to mitigate the economic toll of the tariffs. This includes plans to double the budget allocated for market diversification, participation in international trade fairs, and establishing contacts with potential importers.
Economy Minister Carlos Cuerpo has also announced plans to convene discussions with other autonomous communities in September to further analyze the tariffs' impact and explore additional measures. Overall, while some regional experts warn of underlying economic fatigues within businesses, such efforts illustrate a proactive approach by the Aragón government to safeguard its local economy.