The Ministry of Industry of the Government of Cantabria, through SODERCAN, has designed a Contingency Plan in response to the tariffs announced by the United States.

The plan is currently funded with 5.6 million euros and structured into three pillars that include measures for monitoring the ongoing developments and providing financial assistance for impacted companies.

This initiative is part of the I Internationalisation Plan of Cantabria 2025-2028, and “aims to support the search for new markets in the face of current global uncertainty”, as explained by the Minister of Industry, Employment, Innovation and Trade, Eduardo Arasti, in a session of the Regional Parliament.

According to the Minister, the Contingency Plan was communicated within a broader social dialogue. Following the “initial announcement” by U.S. President Donald Trump, the coordination committee of the Internationalisation Plan was “immediately convoked”, consisting of the Chamber of Commerce, the Regional Office of ICEX, CEOE-CEPYME and SODERCAN, to address the “tariff issue”, assess its impact on industry in Cantabria and to design “corrective actions”.

KEY PILLARS

The first pillar focusses on monitoring and oversight, with two key measures: the creation of a business monitoring service, with a survey of the largest exporting companies to the U.S; and an immediate assistance and consulting service, available through the SODERCAN website offering customised guidance on how the new tariff regulations will be applied and how they may impact specific products and markets.

The second pillar includes financial support and assistance, including a line of funding for exporting companies affected by the tariffs with a budget of 2.5 million euros; an internationalisation aid program with a budget of 3 million euros, or an “internationalisation voucher” of 150,000 euros to allow companies to hire consultancy services to identify alternative markets or to strengthen their position in the U.S. market.

Arasti indicates that “for now” the Contingency Plan had a budget of 5.6 million euros, which “may be revised depending on how the situation evolves.”

The Minister also noted that exports showed a “very positive” change between 2023 and 2024. According to ICEX, in 2023 Cantabrian exports to the U.S. totalled 64 million euros, increasing to 96.7 million the following year, an increase of 51%.

In 2024, a total of 276 Cantabrian companies were active in the U.S. market. Furthermore, Arasti noted the dramatic changes in the trade balance between Cantabria and the United States: “in 2023, there was a trade deficit of 23.6 million euros and in 2024 there was a 21.9 million euro trade surplus”.

See the Contingency Plan of Cantabria here.