'Constructive,' a 'very useful meeting,' 'mutual interests,' - the phrases used by Spain's Economy Minister Carlos Cuerpo after trade talks in Washington.
A real contrast in tone to U.S. Treasury Secretary Scott Bessent's statement, calling these "frank discussions" and urging Spain to raise its defence spending and to drop the digital levy on U.S. tech giants known as the 'Google Tax.'
CGTN’s Ken Browne reports.
A real contrast in tone to U.S. Treasury Secretary Scott Bessent's statement, calling these "frank discussions" and urging Spain to raise its defence spending and to drop the digital levy on U.S. tech giants known as the 'Google Tax.'
CGTN’s Ken Browne reports.
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00:01Constructive, a very useful meeting, mutual interest.
00:05The phrases used by Spain's economy minister Carlos Cuervo after trade talks in Washington.
00:11But those were a real contrast in tone to US Treasury Secretary Scott Besson's statement,
00:17calling these frank discussions and urging Spain to raise its defence spending and to
00:23drop the digital levy on US tech giants known as the Google tax.
00:29Cuervo insisted he saw an open door to negotiation in this ongoing trade war, but Spanish exporters
00:36are growing increasingly nervous.
00:41The uncertainty is huge, enormous.
00:44Today it's 20%, tomorrow 10%.
00:47Three weeks ago they threatened 200%.
00:52Spain is the third largest exporter of wine in the world after France and Italy.
00:58The micro warehouses, the smallest businesses with less than 10 employees, would be worst
01:04affected.
01:05They have much larger exposure in their exports to the United States, up to 30%.
01:11So why the hardening tone from the US?
01:15Many analysts point to Spain Prime Minister Pedro Sanchez's recent visit to Beijing, where
01:20the delegation talked up closer ties between Spain, China and the European Union.
01:26Besson said that would be like cutting your own throat in Washington, a warning that Sanchez
01:32brushed off, saying Spain favoured multilateralism, understanding and free trade.
01:39Spain aims to be friends with both Beijing and Washington, but Cuervo's cold White House
01:44reception reflected the wider EU dilemma as it walks a trade tightrope between the world's
01:51two largest economies.
01:53Cuervo has said that Europe needs to stand together.
01:56Confidence and unity, first and foremost for our consumers, for our companies, our industries,
02:03so that they know Europe will defend them and protect their interests.
02:06Trump's main grievances against the EU include European film quotas imposed on Netflix and other
02:13streamers, pharmaceutical companies' treatment, aid to Airbus and the Google tax.
02:19That forces US big tech firms like Google and Meta to pay more taxes in Europe, an issue
02:27where the EU and the US do not see eye to eye during increasingly turbulent times for global
02:34trade.
02:37Ken Brown, CGTN, Madrid.