Cuerpo conveys Šefčovič’s message to US Treasury Secretary in favor of “constructive negotiations”

Eduardo González This Tuesday in Washington, Economy Minister Carlos Cuerpo conveyed to US Treasury Secretary Scott Bessent the message from European Trade Commissioner Maroš Šefčovič in favor of "constructive negotiations to preserve the transatlantic relationship." He also met with a group of US business leaders, to whom he highlighted the achievements of the Spanish economy, which he described as "the engine of Europe's growth." According to a press conference, the meeting was "frank, open, and useful." "We discussed the trade conflict arising from the measures imposed by the US," he explained. "Bessent conveyed that he wants to reach an agreement with major trading partners, such as the European Union," he continued. “We are convinced that, with Šefčovič, we can reach a balanced, fair, and mutually beneficial agreement,” the minister added. According to the Ministry, Cuerpo's trip was “coordinated” with the European Commission and followed the US decision to suspend new tariffs on the countries (except China) for 90 days and the subsequent decision by the European Commission to also postpone its reciprocal tariffs for 90 days. Furthermore, the meeting between Cuerpo and Bessent took place one day after European Trade Commissioner Maroš Šefčovič traveled to Washington to meet with US Secretary of Commerce Howard Lutnick. During this meeting, the commissioner maintained the European offer of mutual elimination of tariffs on industrial products, including the automotive sector, and asked the US for greater clarity in moving forward in trade negotiations. In this regard, Cuerpo also reaffirmed to Bessent Maroš Šefčovič's message "that the European Union maintains a position of unity and is open to constructive negotiations to find a solution that preserves the transatlantic relationship, the most important in the world, which encompasses around a third of all global trade." "We must support the EU in showing unity, and thus it will have greater negotiating power to achieve a balanced and fair outcome," the minister declared. Bessent received Cuerpo days after harshly criticizing Prime Minister Pedro Sánchez's recent trip to China. "Spain must decide whether it wants to stand with Europe or with those who undermine its principles," the Treasury Secretary declared. "Aligning itself with China now is like cutting its own throat," he added. In response to these remarks, Sánchez asserted in Beijing that "Spain's foreign policy is not against anyone; it favors understanding between countries, the defense of the international order, and free trade," and that Spain and Europe defend "the same interests, values, and principles." In any case, the trip was organized before Sánchez's visit to Vietnam and China, two of the countries hardest hit by US tariffs. Meeting with business leaders The meeting began with a meeting at the US Chamber of Commerce with North American companies from "key sectors (financial, pharmaceutical, and technology) and with growing operations and interests in Spain," as the minister wrote on social media. The business leaders, he stated, appreciated "the sign of confidence and certainty." "Spain is consolidating itself as an investment hub with a stable and predictable regulatory framework," he added. According to sources from the Ministry who spoke to the Europa Press agency, the meeting shared with the business leaders the achievements of the Spanish economy as a "growth engine for Europe" and an investment destination. For their part, according to the same sources, the North American companies, most of them with operations in Spain, expressed their gratitude for the government's "openness" and its "message of certainty" and highlighted the Spanish economy's positive growth prospects and the stability of its legal and regulatory framework. Following this meeting, Carlos Cuerpo met with World Bank President Ajay Banga, "in the framework of preparations for the upcoming international conference on financing for development in Seville," the minister wrote on social media. "Multilateralism is essential to moving toward fair and sustainable growth," he added.

Related Content

Sánchez advocates for a special tax on energy companies that “profit from the war” at the EU summit

Italian ambassador to Spain advocates for a single European market for energy and electricity

Albares and Picardo discuss the implementation of the Agreement in the first-ever bilateral meeting in Madrid

Robles announces in Kyiv a new shipment, starting in early May, of ammunition and tactical armored vehicles to Ukraine

PP accuses the Government of using the Middle East “as political ammunition” and Albares criticizes it for its “Yes to the war in Iran”