Spain strengthens bilateral ties with the US amid tariff crisis

Tuesday 15 April 2025 - 10:09

By: Zahouani Ilham

Spain strengthens bilateral ties with the US amid tariff crisis

In the wake of the tariff crisis initiated by Donald Trump, the Spanish government, led by Pedro Sánchez, has been strengthening its bilateral relations with key global powers. Over the past two weeks, Spain has engaged with China and the United States to fortify these ties. Last week, Sánchez visited China, aiming to deepen economic relations, while this week, Economy Minister Carlos Cuerpo traveled to Washington. Cuerpo's meeting with US Treasury Secretary Scott Bessent marks the first high-level engagement with the Trump administration since the US president announced global tariffs on April 2.

The Spanish government emphasizes that the purpose of Cuerpo's visit is not to negotiate tariffs but to ensure the continuity of good relations between Spain and the US, particularly during this pause in the trade war. The meeting is seen as a confirmation of the ongoing stability in their partnership, given that US investments in Spain reached €6.158 billion in 2024, representing a significant portion of foreign direct investment.

The bilateral talks were arranged earlier this month, with the Treasury's team suggesting the timing for the meeting. Spain's Ministry of Economy clarified that the meeting's primary objective is to reinforce Spain's position as a vital commercial partner of the US, particularly in light of the potential impact of Trump’s tariffs on Spanish exports, which exceeded €18.6 billion last year.

Cuerpo's agenda in Washington also includes meetings with World Bank President Ajay Banga and US-based companies with interests in Spain. The Spanish government has stressed that this visit is coordinated with the European Commission, aiming to protect the crucial transatlantic trade relationship.

The visit comes amidst domestic political discourse in Spain, with the opposition Partido Popular (PP) criticizing Sánchez’s diplomatic approach. The PP has called for resolving trade tensions with the US through diplomacy and warned against shifting focus away from the US to China.