The Balearic government has designed a 6 million euro shock plan to alleviate the impact of tariffs

The Minister has conveyed the need to exempt the de minims rule to improve the competitiveness of Balearic companies

The Minister of Enterprise, Employment and Energy, Alejandro Sáenz de San Pedro, and the Director General of Enterprise, Self-Employment and Trade, José Antonio Caldés, attended the meeting of the “Interterritorial Council of Internationalisation” convened by the Minister of Economy, Trade and Enterprise, Carlos Cuerpo, to analyse the impact of the tariffs imposed by the United States and the measures to be taken to mitigate the economic consequences.

The Government is calling for the lifting of the de minimis rule by the European Union to alleviate the extra costs derived from insularity in the import and export of manufactured goods and agri-food products. This measure is one of the main demands of the Government of the Balearic Islands.

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The Government asks the State to demand that Europe lift the de minimis rule and support companies affected by tariffs

Councillor Sáenz de San Pedro expressed his concern about the situation of the Balearic Islands: “It is urgent to convey to the European Union the need to exempt the Balearic Islands from the de minimis rule since this situation limits the competitiveness of our companies. We want to be able to compete on equal terms in international markets like the rest of the autonomous communities and companies”.

The tariffs applied by the US authorities, despite having a limited impact on the macroeconomic level, will directly affect Balearic companies, increasing the costs of exports. This could lead to an increase in the price of the shopping basket for the citizens of the Balearic Islands, with the risk of exceeding inflation rates of 4%, which were already recorded at the beginning of 2025.

The Government’s main concerns are the possible indirect effects, such as increased competition from autonomous communities and companies exporting to the United States, which could affect Balearic products both in the local market and in other international markets. It also highlights the need to monitor the impact of tariffs on European economies, since a recession in the main tourist markets could seriously affect the sector, which represents more than 80% of the Balearic economy, just when a more sustainable economic model is being sought.

The President of the Government, Margalida Prohens, in collaboration with the economic and social agents, has designed a 6 million euro shock plan, which includes three main measures: 3.5 million euros in aid for the competitiveness of exporting companies, 2 million euros for the promotion of local products and 500,000 euros for international trade missions.