Sánchez's demands in Europe: he will request more budgetary ambition and avoid a trade war with China

The President of the Government, Pedro Sánchez, will advocate this Thursday in Brussels for greater budgetary ambition on the part of the European Union during the meeting of the European Council. In this regard, Sánchez considers the proposals presented so far for the next multiannual financial framework to be insufficient and will demand an additional effort from community partners to face the challenges of the EU in the coming years.

The Executive's position hardens especially after the latest proposal presented by Cyprus, a country that holds the rotating presidency of the EU Council during this semester. According to government sources told 'EFE', the proposal represents a 2% cut compared to the initial design of the European Commission, a reduction that Spain rejects for affecting areas considered strategic, especially energy interconnections and some pillars of the competitiveness agenda.

In addition to the community budget, European leaders will address the evolution of the war in Ukraine, the situation in the Middle East, migration policy, and the economic competitiveness of the bloc. However, one of the issues that will focus a good part of the conversations will be the trade relationship with China and the growing imbalance in exchanges between both parties.

The Twenty-Seven share concern about a trade deficit with the Asian giant that amounts to around 350,000 million euros annually, although they maintain differences on the response that should be given. In this context, the Spanish Government opts for avoiding an escalation of tensions and rejects measures that could lead to a trade war. Moncloa warns that Beijing has the capacity to respond with high-impact reprisals on European economies.

Finally, Sánchez will convey to his counterparts the need to act with pragmatism and prioritize negotiation as a way to correct trade imbalances. Before participating in the European Council, the head of the Executive will attend a meeting of EU socialist leaders and another meeting of the Friends of Cohesion group, made up of about fifteen countries that advocate for the maintenance of European regional funds.