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Several European countries have called for a tougher stance on trade relations with China, putting Pedro Sánchez's government in an awkward position. Ahead of an EU Commission debate last Friday, Spain joined Italy, the Netherlands
and Lithuania in signing a document demanding that the EU take stringent measures
to reduce its 360 billion- Last Friday's brainstorming session comes ahead of two high- Within a few days of signing the document, however, Spain had backtracked. Economy
minister Carlos Cuerpo "explained" this apparent reversal with a classic piece of
politico- I think what Cuerpo meant was that the document signed by Madrid was not official or binding, just a collection of suggestions; and that the Spanish government would have to think carefully before formally backing any measures that could be perceived as hostile by Beijing. This is no surprise, given that Prime Minister Sánchez - |
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20per cent of its pork exports and the third- Beijing is also investing heavily in Spain's renewable energy and automobile sectors.
Most recently, its state- Still, Spain runs a 40- Waging a Trumpian tariff war, of course, is one way to try to reduce a trade deficit.
But Sánchez is one of several leaders who seem to be opting for a healthier alternative
- Already this year, the leaders of Ireland, Finland, Canada and the UK have also visited Beijing. All of them are trying to attract more Chinese business, in part to counteract the possible effects of US isolationism. Last April, US treasury secretary Scott Bessent warned that any country seeking closer economic ties with China would be "cutting [its] own throat". Sánchez is well aware of the risks posed to European competitiveness by China's state- But he requires smooth diplomatic relations to make Beijing a better customer - |