Spanish Minister of Economy to Strengthen Ties with U.S. Amid Trade Tensions
This week, Carlos Cuerpo, the Minister of Economy, Trade, and Business of Spain, will embark on a significant trip to Washington, D.C. His agenda includes meetings with U.S. Treasury Secretary Scott Bessent and representatives from various multilateral institutions, alongside American business leaders. This visit is especially crucial given the ongoing trade conflict spurred by the recent changes in the U.S. administration under President Trump.
Sources from the Ministry of Economy have confirmed that Minister Cuerpo is set to meet with Treasury Secretary Scott Bessent on Tuesday. This meeting is part of Spain's continued efforts to fortify its relationships with key trading partners, particularly the United States, which stands as one of Spain's largest markets.
During his visit to Washington, Cuerpo will also engage with Ajay Banga, the President of the World Bank, as well as various representatives from American companies interested in Spanish markets. The Spanish government emphasizes that this visit is coordinated closely with the European Commission and comes just a day after the European Trade Commissioner met with U.S. officials to discuss tariff negotiations between the European Union and the United States aimed at safeguarding the transatlantic trade relationship, recognized as the most significant in the world.
Cuerpo shared insights with a group of journalists this morning about the upcoming discussions with Secretary Bessent, stating that they will cover all pertinent bilateral issues to foster deeper relations between Spain and the United States. With both nations experiencing a positive trajectory in their ties, this meeting is seen as pivotal in capitalizing on the current momentum.
Moreover, the Minister indicated that he aims to leverage meetings with American businesspeople to persuade them to invest and expand their activities in Spain, thus enhancing the economic partnership between the two nations.
Cuerpo's trip also follows the recent visit of President Pedro Sánchez to China, during which he faced criticism from the U.S. for the perceived alignment between Spain and China amidst the ongoing tariff war. Secretary Bessent remarked that aligning commercially with China could be detrimental for Spain, likening it to 'cutting its own throat.'
As international tensions continue to shape global trade dynamics, this visit could serve as a major step toward reinforcing Spain's economic strategies and partnerships in a rapidly changing environment.
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