Senior Chinese and Spanish officials have made statements in support of free trade at an event in Madrid. Photo credit – Pixabay
China and Spain support free trade
Both the Chinese and Spanish foreign ministers have declared the will of their respective countries to support free trade and multilateralism, whist fighting protectionism.
The comments were made during the visit of Foreign Minister Wang Yi to Madrid in Spain,
That’s according to specialist publication Business Insider, who report that:
”Spanish Foreign Minister Alfonso Dastis acknowledged the European Union’s trade relations with the U.S. are “under a certain amount of strain” due to Washington’s threat to impose tariffs on steel and aluminum.”
The news comes just two days after we reported that businesses across the European Union have identified possible growth opportunities in the event that China needs to restict imports from the USA in response to Donald Trump’s policies.
The EU and the US are China’s two biggest trading partners. It stands to reason that EU companies are keen to fill any void that could occur.
Key markets that have been identified by European firms (alongside fresh produce) include raw materials, financial services, and the food and drinks industries.