The president of the Spanish Confederation of Business Organizations (CEOE), Antonio Garamendi, will participate this Thursday in a new social dialogue table convened by the Government to analyze the economic consequences of the international conflict and the trade tension with the United States after the message transmitted yesterday by Donald Trump in which he threatened to cut all relations with Spain. Garamendi has indicated that he hopes to ensure that the Executive can “redirect the situation”, considering that the impact on the Spanish economy “may be important.”
The leader of the business organization has stated that he will attend the meeting with Yolanda Díaz and company, although first it is necessary to “analyze and really listen to the people who are affected,” as he explained in an interview with the COPE network. The meeting is part of the contacts promoted by the Government with unions and businessmen to evaluate possible measures in the international scenario and their economic consequences.
The call comes after the President of the Government, Pedro Sánchez, assured that the Government is studying measures to support households, workers, companies and the self-employed in the event that the international conflict has direct effects on the Spanish economy. As explained by the Chief Executive, the objective is to be able to “mitigate” the impact that could arise from this situation.
Concern in companies about commercial relationships
In recent days, the employers’ association has shown its concern about the possibility of the United States interrupting or deteriorating its commercial relations with Spain, a scenario that, according to Garamendi, would have significant consequences for economic activity.
“For us, the United States is a friendly country and a fundamental partner, from an economic and also a political point of view, and we hope that trade relations will move forward,” said the president of the CEOE.
The business leader has also stressed that Spain must maintain its position within the European framework and coordinate its strategy with the European Union. “We are in Europe, let’s work with Europe and manage what Europe is setting,” he defended, while asking the Government to act with prudence in a situation that he considers delicate.
Garamendi also recalled the high volume of cross-investments between both countries and warned that numerous Spanish companies have billions of euros invested in the United States, while American companies maintain important positions in Spain.
Added to this is the energy relevance of the bilateral relationship. The president of the employers’ association has indicated that the United States currently sends around 30% of the liquefied natural gas that Spain imports, a supply that becomes more important in a context in which the country plans to progressively close its nuclear power plants. “Be careful what is being played, because we are talking about very serious issues,” he warned.
The meeting called by the Ministry of Labor will thus serve as the first formal space for dialogue between the Government, unions and businessmen to assess the economic impact of the current international context and study possible responses if the trade tension ends up affecting the Spanish economy.