The President of the Spanish Government, Pedro Sánchez, insisted on Monday on the need for a negotiated solution to the tariff tensions between the European Union and China, because “A trade war would benefit no one.”
Sánchez issued this warning during the meeting he held in Beijing with the Business Advisory Council of the two countries, which includes 22 Spanish and 21 Chinese companies.
A meeting after his speech at the inauguration of the 9th Spain-China Forum, which was the first act on his agenda during his visit to the Asian country and in which he called for dialogue and the search for consensual solutions to resolve common problems amid tariff tensions between China and the European Union.
Let us recall that Beijing announced in June an “anti-dumping” (unfair competition) investigation into certain imports of pork and pork derivatives from the European Union, in response to the customs tariffs imposed by Brussels on Chinese vehicles.
This could particularly affect Spain because it is the main exporter of pork to China among all EU countries.
Sánchez did not explicitly refer to these tariff tensions at the opening of the forum, but he did so before the Chinese and Spanish businessmento whom he said that current trade tensions represent a great challenge.
“Measures such as imposing additional tariffs on Chinese electric vehicles represent a challenge for everyone,” Sánchez said. In fact, he guaranteed that Spain will work for a negotiated solution and agreed within the framework of the World Trade Organization.
European industry
A solution that believes it will contribute to creating greater equality of conditions and promoting the development of European industry in collaboration with Chinese companies in the sector.
“A trade war would benefit no one. In this environment, it is vital that Spain and China maintain a constructive dialogue based on mutual respect,” he said.
During the meeting, held at the headquarters of the Industrial and Commercial Bank of China, Sánchez stressed that this Consultative Council is a clear manifestation of the mutual commitment to strengthen and deepen relations between China and Spain at a crucial time for the global economy and the two countries.
This is what he explained that he intended to do on this trip, increase economic exchanges and above all avoid restricting them.
He added that his government had a strong desire to increase the presence of Spanish companies in China and boost relations between the two countries, while declaring its determination to attract more quality Chinese investment to Spain.
In this context of collaboration, he stressed that there are challenges to be faced, among which he cited, in addition to tariff tensions, the deep trade imbalance between Spain and China.
For this reason, the aim was to promote a balanced relationship based on respect and reciprocity and which benefits both countries.
Representatives of the companies attended the meeting from the Spanish side. Alsa, Grupo Antolin, BBVA, Cepsa, Denodo, Gestamp, GRI Renewable Industries, Grupo Jorge, Isdin, La Liga, Mondragón, Nicolás Correa, Osborne, Roca and Técnicas Reunidas, as well as the leaders of CEOE and the Spanish Chamber of Commerce.
This was the second meeting of this Business Advisory Council, which held its first meeting in Madrid in 2018 during the visit of Chinese President Xi Jinping.
