Spanish Finance Minister Carlos Cuerpo, speaking in Dublin on September 18, 2026, called for the European Union to embrace its relationship with China. This stance diverges from the broader sentiment within the bloc, which has generally expressed wariness towards China's economic influence. Cuerpo stated, "We need to engage in that dialogue and see what transpires," suggesting that direct engagement is crucial for navigating the complex relationship.
He further indicated that he believes "the window of opportunity is a good one now" for such dialogue. This perspective from a key EU finance official highlights differing views within the Union on how to approach its economic ties with Beijing. While some EU officials, like Commissioner Séjourné, have stressed the need to rebalance the trade deficit due to job losses and potential punitive measures, Spain appears to be advocating for a more conciliatory and dialogic approach.
Spain has historically been a strong advocate for expanding trade with China and treating it as a strategic ally rather than solely a rival. Spanish Prime Minister Pedro Sanchez, during his visit to China on April 14, 2026, also emphasized the importance of strengthening ties with China, even while acknowledging an "excessive" trade deficit that reached nearly $50 billion in 2025 for Spain. Agreements were made during Sanchez's visit to expand market access for Spanish agricultural products and support Spain's transport and infrastructure sectors, aiming to narrow this deficit.
This position from Spain comes amidst broader EU concerns about an "unsustainable" trade imbalance with China, which reportedly exceeded $1 billion per day in July 2026. The EU is considering trade defense tools, such as anti-dumping duties and tariffs, if negotiations do not yield concrete results by an October deadline. However, Spain's stance suggests a preference for continued dialogue and cooperation over immediate punitive actions, reflecting a desire to maintain strong political and economic ties with Beijing.
