Spain has stepped forward with a bold €14.1 billion relief package to shield its economy from the ripple effects of new U.S. tariffs, as Economy Minister Carlos Cuerpo warns of potential hits to the country’s GDP amid growing global trade tensions.
The series of tariffs announced by U.S. President Donald Trump on Wednesday could have a negative effect on Spain's gross domestic product, potentially reducing it by several tenths of a percentage point, Economy Minister Carlos Cuerpo warned on Friday.
While Spain’s direct economic exposure to the United States is relatively limited compared to other European Union nations, Cuerpo emphasized that a global slowdown in trade could indirectly impact the Spanish economy.
In response to the potential fallout, Spain on Thursday unveiled a substantial financial support package valued at €14.1 billion ($15.55 billion), comprising loans and direct aid. This initiative positions Spain as one of the few major economies to present a concrete and proactive solution to mitigate the repercussions of the newly imposed U.S. tariffs.
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Iranian Supreme Leader Ayatollah Khamenei has ordered Iran's armed forces to respond to any threat immediately and without geographical limits in statements posted to social media platforms on Saturday (31 October).
Demonstrators carrying Iranian flags and placards supporting the hijab gathered outside the Azerbaijani Embassy in London.
A Chinese-made AI chip has matched Nvidia’s H200 in tests conducted by its developer, marking a potential breakthrough in China’s efforts to reduce its dependence on foreign technology.
A hacking group linked to North Korea is widely believed to be behind the theft of $6.3 billion from cryptocurrency giant Binance, a cyberattack that experts describe as the largest cryptocurrency heist on record.
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A drone strike hit a power station in northern Sudan early Sunday (1 November), sparking a fire and triggering loud explosions, witnesses said.
Gen Z protests swept 34 German cities on Saturday (31 October) over education, living costs and military service proposals. Violence erupted in Frankfurt, where shops were looted and police reported Molotov cocktail attacks.
Iran designated Britain's Royal Navy and Royal Air Force as terrorist organisations on Sunday, (1 November), and classified the country's foreign intelligence agency, MI6, as a hostile group, according to a statement from the Iranian Foreign Ministry.
Thousands protested in Albania's capital, Tirana, on Saturday (31 October), demanding Prime Minister Edi Rama's resignation over perceived corruption allegations and dissatisfaction with the government over a lack of jobs and poor education standards.
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