Washington (EFE) ** After a meeting with U.S. Treasury Secretary Scott Bessent, Spain’s Minister of Economy, Trade, and Business, Carlos Cuerpo, expressed optimism about establishing a favorable tariff agreement with the United States that encompasses all imposed duties. He believes such an agreement would be fair and mutually advantageous.
“We are confident that, with European Commissioner Maros Sefcovic leading the negotiations, we can arrive at a balanced and beneficial agreement for both sides,” Cuerpo stated to the press after concluding his discussions in the U.S. capital.
During his time in Washington, Cuerpo met with various U.S. companies, the President of the World Bank, Ajay Banga, and ultimately with Bessent, with whom he had a productive dialogue regarding international economic matters.
“Open Door to Negotiation”
Cuerpo highlighted that Bessent emphasized the U.S. intention to reach agreements with its primary trading partners, which he believes confirms the open negotiation opportunities introduced last week with the 90-day moratorium.
Trump’s Tariff Moratorium
Last Wednesday, U.S. President Donald Trump reversed the “reciprocal” tariffs he had announced just days earlier, opting for a general 10% tariff for most countries, including the EU, to be applied during a three-month period.
In response, Brussels temporarily suspended some tariffs that were enacted in retaliation for the 25% duties Washington placed on steel and aluminum, expressing its readiness to negotiate a “zero-for-zero tariffs” agreement concerning industrial products.
“The moratorium from the U.S. only pertains to a portion of the total tariffs. For us, a balanced solution must factor in the entire spectrum, including those on steel, aluminum, and automobiles, as well as the general 10% tariff. This should be our starting point,” Cuerpo explained.
The Spanish minister noted that his conversation with Bessent was “candid and open.” He mentioned that Bessent had criticized Prime Minister Pedro Sánchez’s suggestion that Spain might consider closer ties with China due to the Trump Administration’s protectionist policies, warning that such a move would be detrimental.
“The EU’s agenda with China in recent years has been clear. While we recognize China as a competitor in many areas, it must also be a strategic partner. We have to pursue agreements that are beneficial for both China and the EU, and there is significant potential for that,” Cuerpo asserted.
Spain’s Engagement with China
Cuerpo defended Spain’s approach towards China, emphasizing that Spain “fully supports the initiatives of the Commission.”
He indicated that backing the EU’s united front enhances “negotiating capacity,” leading to a more balanced outcome for all member states. He regarded his meeting with Bessent as a “very positive” initial step towards maintaining ongoing relations with the U.S.
Among the U.S. companies he met with were those in the pharmaceutical, financial, and medical product sectors, which he noted are significantly investing in the Spanish economy, although he refrained from naming them.
Cuerpo also discussed the effects of
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