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Spain’s PM Calls on EU to Expand Commercial Relations

(MENAFN) Ahead of the summer parliamentary recess, Spanish Prime Minister Pedro Sanchez addressed the media at his Madrid residence, where he emphasized that he "valued" the "efforts the European Commission has made."

He highlighted that the newly announced trade agreement revealed a crucial lesson for Europe in its dealings with the U.S. administration: "one of the lessons Europe has to make in the face of the U.S. administration is that we have to get our act together in every aspect: in strategic autonomy and in commercial agreements with other countries."

Sanchez further stressed the importance of expanding Spain’s trade partnerships, saying, "We have to diversify our commercial relations with blocs that want an agreement with Europe, such as Mercosur," while reaffirming that Spain’s foreign policy is founded on "commitment to peace, reality and cooperation between nations."

The trade agreement, announced Sunday by U.S. President Donald Trump and European Commission President Ursula von der Leyen after talks at Trump Turnberry in Scotland, aims to restore "trade balance" and promote fairer bilateral commerce. However, it permits the U.S. to levy a 15 percent tariff on EU products while granting zero tariffs on various key American exports. Meanwhile, the EU has committed to purchasing $750 billion in American energy and investing an additional $600 billion in the U.S. economy.

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