Spanish Economy Minister Carlos Cuerpo will travel to Washington for talks on Tuesday with US officials, he said Monday as the European Union races to reach a deal on tariffs.

His visit will come following European Trade Commissioner Maros Sefcovic's visit to Washington on Monday, where he will be holding discussions with the US on the bloc's behalf to avoid an all-out trade war after President Trump imposed massive tariffs.

Cuerpo told a group of foreign journalists he would meet with US Treasury Secretary Scott Bessent on Tuesday as well as World Bank President Ajay Banga and "numerous US business leaders" to "strengthen" bilateral ties.

His visit "fits very well" with Sefcovic's trip to Washington, which has "the full and complete support" of the bloc's 27 member states, he said.

Cuerpo said he hoped "we are all capable of reaching a negotiated and balanced agreement between both parties, because it will be very beneficial for everyone."

Trump said he would slap 20 percent tariffs on EU goods, to which the bloc has promised countermeasures should negotiations with Washington fail.

The US president last week announced a 90-day pause in the implementation of higher duties, leaving just a global baseline 10 percent tariff intact for now.

Spanish Prime Minister Pedro Sanchez has promised an aid package worth 14.1 billion euros to help sectors such as olive oil and wine to weather the trade storm.