Particle.news
Download on the App Store
3 ARTICLES
·
last wk.

U.S. Presses Spain on Defense Spending and Digital Tax in Trade Talks

Negotiations between U.S. and Spanish officials highlight points of contention over NATO obligations, trade barriers, and Spain's ties with China.

Spain Minister of Economy, Trade, and Enterprise Carlos Cuerpo participates in a media interview at the International Monetary Fund (IMF) and the World Bank Group 2024 Fall Meeting in Washington, U.S., October 23, 2024. REUTERS/Kaylee Greenlee Beal/File Photo
Image

Overview

  • Spanish Economy Minister Carlos Cuerpo expressed optimism about reaching a fair and balanced trade deal with the U.S. before the 90-day tariff moratorium ends.
  • U.S. Treasury Secretary Scott Bessent called on Spain to increase defense spending to meet NATO's 2% GDP target, citing longstanding U.S. concerns over European defense contributions.
  • Bessent criticized Spain’s digital services tax, arguing it unfairly targets American tech companies, and raised concerns over other non-tariff barriers impacting U.S. businesses.
  • The discussions also touched on geopolitical tensions, with U.S. officials warning against Spain's closer economic ties with China, a stance rejected by Spanish representatives.
  • Trade talks remain ongoing as both sides aim to resolve tariff disputes and broader economic issues, with a focus on mutual interests and addressing key disagreements.