Spanish Prime Minister Pedro Sanchez will announce later today an "immediate safety net" and a "relaunch strategy" for sectors impacted by US trade duties, according to Economy Minister Carlos Cuerpo's Thursday statement.

The protective measures will be detailed in the contingency framework that Sanchez will unveil this Thursday at the Moncloa Palace, supplementing the European Union's existing response measures.

Cuerpo emphasized that Madrid remains open to dialogue with the White House but expressed disapproval of the new American policies, which impose 20% tariffs on European Union members, including Spain.