Corporal begins its tour of China with its mind set on the trade deficit, the pork sector and the automobile
The Minister of Economy, Carlos Body, began this Monday a new state trip to China in which he will accompany the Kings on the first official visit of the heads of state to the Asian giant. A tour with which the Government seeks delve into its policy of rapprochement with China (Pedro Sánchez has already visited the country three times since 2023) and open doors to Spanish companies in the country, with the focus on two key sectors: pork and automobiles.
On the first day of the visit, Corps has set itself the objective strengthen economic, trade and investment cooperationwhile seeking a “more balanced and solid” relationship. This imbalance that the minister speaks of translates into a trade deficit of 40 billion euros in favor of China, which the minister believes needs to be “corrected.” “The relationship with China is still very asymmetrical. We are starting from a very unbalanced situation that we have to correct,” Corpus highlighted in statements to the media.
The ministry seeks open the market to Spanish companies that want to establish themselves in the Asian giantwithout losing sight of “the strategic sectors” for Spain in the country, among which pork and pharmaceuticals have stood out. Regarding the pork industry, Corpus has pointed out that in recent years Spanish exports to China have been reduced, which “does not seem to confirm the existence of dumping“(unfair competition), as China was investigating.
The Chinese government initiated this investigation in retaliation to the European Union for the imposition of tariffs on electric cars from the Asian country with a view to imposing trade retaliation on the European agri-food sector. Body defends now that The data “would not point to the imposition of these measures against pork exports” both Spanish and European.
Furthermore, Corps has called on open the market to other types of products where Spain is also competitive such as “capital goods” (for example, machinery) or the automotive sector. In this section he has called for “joint initiatives” with Chinese companies to strengthen the sector.
One of the issues that hovers over the state trip is the difficult balance between rapprochement with Chinawhich generates suspicion in Europe, and the care of commercial relations with the United States. Regarding this aspect, Corps has indicated that it is necessary to “speak and negotiate” with “all the main actors” at a time when geostrategic and geoeconomic rules are being redefined. Furthermore, he stressed that the main trading partner of the European Union is the United States and highlighted that trade between both blocs (4.6 billion euros per day) is “a treasure that we have to protect.”
Insists that they will present Budgets
Asked if the Government maintains its intention to present General State Budgets (PGE) after the break with Junts, Corps has insisted that the Executive will “comply”. ““It’s not going to be an easy negotiation, we’re going to go step by step.”has moved Body.
In any case, the minister has indicated that the extension “has not been an impediment” to developing the reforms and investments pursued by the Government. Nor for the execution of the recovery plan, he added. Furthermore, at the European level, Corpus has highlighted that Spain “is in the group of good students” in fiscal matters and macroeconomic imbalances.
