economy and politics

Sanchez seeks to calm EU-China trade war in talks with Xi Jinping

The rise of AI propels Nvidia as the most valuable company in the world

The two leaders made statements in favor of free trade and promoting cultural exchanges and tourism, according to Chinese state television, but did not announce any details about the ongoing dispute over electric vehicles.

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The President of the Spanish Government, Pedro Sanchezmet with the Chinese president on Monday Xi Jinping and other senior officials during his trip to China. It is his second trip to China in 18 months and comes during a trade dispute with the EU over electric cars.

The two leaders made statements in favor of the free trade and the promotion of the Cultural exchanges and the tourismaccording to Chinese state broadcaster CCTV, but did not announce any details about the current dispute over electric vehicles.

“We hope that Spain will continue to provide a fair, equitable, safe and non-discriminatory business environment for Chinese companies to invest and do business,” Chinese President Xi Jinping said. Sanchez responded, according to Chinese television: “Spain supports the principles of free trade and open markets and does not support a trade war“.

Trade between the EU and China is going through a tense moment

Trade is currently a sensitive issue between China and Spain. The European country was among the EU members that expressed support earlier this year for a 36.7% tariff on goods. Chinese electric vehiclesThe Chinese government responded by launching an investigation into EU pork imports.

EU pork product exports to China hit a record high 7.4 billion of euros in 2020when Beijing had to look abroad to meet domestic demand after its pig farms were decimated by a swine disease.

EU pork exports to China have since declined, reaching 1.7% in 2019. 2.5 billion euros last year. Almost half of that total came from Spain.

Spain welcomes a Chinese car manufacturer in Barcelona

Tensions over pork have not stopped Spain from welcoming the Chinese carmaker’s plans Chery to open an electric vehicle plant in Barcelona.

Xi and Sanchez met at the Diaoyutai State Guesthouse in Beijing. The socialist leader also attended a Business Forum in Beijing for Spanish and Chinese companies before moving to Shanghai.

On Tuesday he will attend more corporate events already the inauguration of a Cervantes Institutea centre that promotes the Spanish language and culture. Before holding talks and dining with Xi, Sánchez held talks with Chinese Prime Minister Li Qiangand the head of the ceremonial legislature, Zhao Leji.

The Spanish Prime Minister arrived in China late on Sunday and He leaves on WednesdayThe last time Sánchez visited China was in March 2023, when Spain held the rotating presidency of the European Union.

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