Economy
Spain’s Economy Minister Travels To The White House: Trump Trade War Visit Comes After Pedro Sanchez Cosied Up With China – Olive Press News Spain
SPAIN’S Economy Minister, Carlos Cuerpo, flies to Washington on Monday to meet with his counterpart, US Treasury Secretary, Scott Bessent.
Tuesday’s talks come amidst the Trump tariffs and Bessent criticising last week’s meeting in Beijing between Spanish Prime Minister, Pedro Sanchez and Chinese leader, Xi Jinping.
The Cuerpo-Bessent meeting had been scheduled for some time.
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Carlos Cuerpo told foreign journalists on Monday that his aim was to consolidate trading relationships with one of Spain’s key economic partners.
He pointed out that tariffs would not be formally discussed as that comes under the umbrella position of the European Union,
Scott Bessent last week described the Sanchez-Xi summit as the equivalent of ‘cutting your own throat’.
Carlos Cuerpo said: “We will all relevant bilateral issues, with the aim of strengthening relations between Spain and the United States that have been growing in recent years and are going through one of their best periods.”
“The talks will dove-tail well with the visit of the European Commission, with which we are in constant contact to support their stance,” he added.
Talks were schedule for Monday in Washington between the European Commissioner for Trade, Maros Sefcovic and the US Secretary of Commerce, Don Graves.
Cuerpo praised Donald Trump’s decision to have a 90-day moratorium on new tariffs at 25% for the EU: “This represents an open door to negotiations as we have a lot to protect.”
“The daily movement of €4.4 billion in between both sides of the Atlantic is a treasure that we must keep,” he said.
Cuerpo’s Washington visit will also include talks with World Bank President Ajay Banga and US businesses who have indicated they want to gain a foothold in Spain.
Economy
Spain’s Economy Minister Cuerpo meets US counterpart and says trade deal can be struck with EU
SPAIN’S Economy Minister Carlos Cuerpo says he’s ‘convinced’ the US and EU would thrash out a fair trade deal in the wake of the Trump tariffs.
Cuerpo visited Washington for talks with US Treasury Secretary Scott Bessent on Tuesday.
Cuerpo said his counterpart sent a ‘clear message’ that confirmed the “open door to negotiation that was already opened last week with the 90-day moratorium”.
READ MORE:
“We’re convinced that, with EU Trade Commissioner Maros Sefcovic leading the European negotiation, we’ll be able to reach an agreement that is balanced, fair and beneficial to both sides,” he predicted.
Regarding his meeting with Bessent, Cuerpo said they had an ‘open and frank conversation on all current aspects of the international economy, including the relations between the US and Spain as well as between the EU and some of the most important economic players such as China’.
‘Open and frank’ is diplomatic code for disagreements and even arguments.
The US Treasury department issued a statement after the talks which didn’t seem to be as upbeat as Cuerpo’s analysis.
“During their talks, Secretary Bessent stressed the need for Spain to increase defence spending in the context of NATO, “ the statement said.
Spain in terms of percentage, is one of the lowest contributors to the military alliance.
“The secretary also underscored the United States’ continued opposition to the tax on digital services applied by Spain and other countries, as well as to other non-tariff barriers,” it continued.
That contrasted with Cuerpo’s warmer tone who said: “It has been a very constructive meeting, very useful and a very good first contact to continue maintaining relations from now on on all the issues that benefit us and that interest us mutually, from commercial, economic, and financial relations.”
“But also a review, of course, of the current situation, also thinking about those mutual interests on the part of Spain and the United States,” he concluded.
Economy
Spain’s Economy Minister Cuerpo Meets US Counterpart And Says Trade Deal Can Be Struck With EU – Olive Press News Spain
SPAIN’S Economy Minister Carlos Cuerpo says he’s ‘convinced’ the US and EU would thrash out a fair trade deal in the wake of the Trump tariffs.
Cuerpo visited Washington for talks with US Treasury Secretary Scott Bessent on Tuesday.
Cuerpo said his counterpart sent a ‘clear message’ that confirmed the “open door to negotiation that was already opened last week with the 90-day moratorium”.
READ MORE:
“We’re convinced that, with EU Trade Commissioner Maros Sefcovic leading the European negotiation, we’ll be able to reach an agreement that is balanced, fair and beneficial to both sides,” he predicted.
Regarding his meeting with Bessent, Cuerpo said they had an ‘open and frank conversation on all current aspects of the international economy, including the relations between the US and Spain as well as between the EU and some of the most important economic players such as China’.
‘Open and frank’ is diplomatic code for disagreements and even arguments.
The US Treasury department issued a statement after the talks which didn’t seem to be as upbeat as Cuerpo’s analysis.
“During their talks, Secretary Bessent stressed the need for Spain to increase defence spending in the context of NATO, “ the statement said.
Spain in terms of percentage, is one of the lowest contributors to the military alliance.
“The secretary also underscored the United States’ continued opposition to the tax on digital services applied by Spain and other countries, as well as to other non-tariff barriers,” it continued.
That contrasted with Cuerpo’s warmer tone who said: “It has been a very constructive meeting, very useful and a very good first contact to continue maintaining relations from now on on all the issues that benefit us and that interest us mutually, from commercial, economic, and financial relations.”
“But also a review, of course, of the current situation, also thinking about those mutual interests on the part of Spain and the United States,” he concluded.
Business & Finance
Spain Braces For €15bn Blow From Trump: Four Out Of Five Exports To The US Face New Tariffs – Olive Press News Spain
AROUND 80% of Spanish exports to the United States are expected to be affected by the new tariffs recently imposed by US President Donald Trump.
The tariffs, part of a broader trade policy targeting several countries, could have significant consequences for Spain’s economy.
Each year, Spain exports goods worth approximately €18.6 billion to the US.
These figures follow the announcement made last week by the White House, sparking concern among Spanish exporters and industry leaders.
In response, the Spanish government has approved a decree that includes financial aid aimed at supporting sectors most impacted by the tariffs.
“We have put in place measures to protect our industries and workers,” said Minister Cuerpo, who added that discussions with other parliamentary groups have so far been ‘constructive’.
“We hope this spirit of cooperation will lead to the swift ratification of the decree,” he stated.
However, not all political parties are fully on board. The conservative Partido Popular (PP) has voiced criticism, calling the current measures ‘insufficient’ and pushing for amendments.
A PP executive said the party supports the idea in principle but believes ‘the decree still needs adjustments to be truly effective’.
Meanwhile, Junts, the pro-independence Catalan party, has declared its support for the decree.
A party representative emphasized that many Catalan businesses depend on trade with the US and would benefit from the relief package.
Despite these efforts, the overall impact of the tariffs on the Spanish economy remains uncertain.
Analysts warn that sectors such as agriculture, automotive parts, and technology – key components of Spain’s export portfolio – may face serious challenges in maintaining competitiveness in the US market.
A significant portion of Spain’s transatlantic trade is now under pressure, and businesses are anxiously awaiting further developments.
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