It is the first time England have won the competition since 1984 and they have done so by winning every match, without conceding a single goal.
Lee Carsley’s side made the breakthrough in first-half added time, having struck the woodwork a minute earlier.
Cole Palmer struck a free-kick and his effort went in via a deflection off Jones.
While the goal was initially adjudged to be the Manchester City midfielder’s, it was eventually credited to Jones.
Spain pushed for an equaliser and were awarded a stoppage-time penalty.
However, Abel Ruiz’s spot-kick was saved by Trafford, who had predicted he would be called into action.
"I told everyone this morning I was going to save a pen," he said. "When they got a penalty, I knew I was going to save it."