Corps travels to Washington to meet with the US Treasury Secretary amid tariff chaos

MadridFive days after Donald Trump's announcement of the temporary suspension of tariffs on the entire world except China, Economy Minister Carlos Cuerpo traveled to Washington on Monday to meet with US authorities, multilateral institutions, and business representatives. However, one of the most notable among them was Scott Bessent, the current US Secretary of the Treasury. Sources from the Ministry of Economy explain that the meeting with Bessent will take place this Tuesday within the framework of "regular relations with his counterparts to strengthen ties with one of our largest trading partners." A position also defended by Spanish government spokesperson Pilar Alegría in a press conference on Tuesday: "It is a visit that is taking place under the umbrella of normality." From the Spanish Ministry of Economy, they insist on the need to "strengthen trade relations" with the United States.

However, the meeting comes at a time when the tariff truce represents a significant impact on Brussels, and therefore on the State. an opportunity to negotiate with Donald TrumpIn fact, the Corps' trip was carried out in "coordination and permanent contact" with the European Commission, according to the ministry, and comes just after the visit of the European Commissioner for Trade, Maros Sefcovic, to the United States.

But in the Spanish case, the meeting was preceded by Pedro Sánchez's reference to an "open door to negotiation [with the United States]," as the Prime Minister said last week. The meeting also follows Sánchez's official trip to China last week, which irritated the White House: "Getting closer to China would be like cutting your own throat," Bessent himself threatened. just before the start of Sánchez's tour of the Asian continent, in a context in which the United States maintains tariffs of 145% for Beijing. The head of the Spanish government, who also traveled to Vietnam, did not hesitate to defend his visit to Beijing, but avoided directly referring to the criticism from the United States for his approach to the country: "Spain defends a world of open doors. A world in which trade unites people and makes them more prosperous," said Sánchez.

However, the US Treasury Secretary is known to have been one of the most cautious voices regarding the deployment of tariffs beyond the Asian country, which influenced Donald Trump's about-face with the 90-day suspension. Bessent, who comes from Wall Street, now has three months to straighten out the trade war outside of the aggressive and populist frameworks of Peter Navarro, Trump's strongman and ideologue of tariff policy.

Spain's trade exposure in the United States is limited compared to other European countries such as Germany or Italy, and stands out for its strong sectoral and territorial component. In 2024, exports to the North American country amounted to 18.904 billion euros, representing just under 5% of total sales of goods abroad. Of this total, Catalonia accounts for 25%. Regarding the sectors and products highly sensitive to tariffs, the agri-food sector stands out, with oil and wine leading the way, as well as machinery (industrial and technological and electronic devices), perfumery and cosmetics, and, in the case of Catalonia, pharmaceutical products.

Beyond the meeting with Bessent, Cuerpo also plans to meet tomorrow, Tuesday, with the president of the World Bank, Ajay Banga, as well as with the private sector, specifically with US companies with commercial interests in the country. This latest meeting was coordinated by the American Chamber of Commerce in Spain (AmChamSpain), government sources told ARA, adding that no further meetings with the private sector or with Spanish companies operating in the United States are planned outside of this meeting.

Isla receives the affected sectors

Meanwhile, in Catalonia, the President of the Generalitat (Catalan Government), Salvador Illa, met with pharmaceutical sector companies this Monday afternoon at the Palau Palace, in the first meeting with business sectors affected by tariffs. Isla was accompanied by the Minister of Health, Olga Pané, and representatives from 16 leading companies in the sector, including Novartis, Astrazeneca, Boehringer Ingelheim, Sandoz, Amgen, Menarini, Almirante, Ferrer, Esteve, Grifols, Reig Jofre, Chiesi, and Kern Biosim, attended the meeting.

Isla will meet with the automotive sector this Tuesday and with companies from the agri-food sector on Wednesday. The Catalan president's meetings are scheduled to continue next week with other business sectors affected by the tariff policy, with the aim of "listening to their needs."