Spanish Prime Minister Pedro Sánchez said in Beijing that Spain’s trade deficit with China is “unsustainable in the medium and long term.”
During his fourth visit to China in four years, Sánchez stressed that Spain “needs China to open up so that Europe does not have to close itself,” as the trade deficit between Madrid and Beijing exceeded €42 billion in 2025.
Speaking at Tsinghua University, he called for efforts to “correct” the imbalance and to jointly build a more balanced global economy that generates shared prosperity.
Read more: Chief Executive visits Portugal and Spain between April 17 and 23
According to Sánchez, the current global landscape is already multipolar, requiring “a more horizontal and fair economy, where there are no losing regions and others winning.” He also warned that deepening some international partnerships should not come at the expense of others, calling such thinking “wrong” and “dangerous.”
During the visit, Sánchez is scheduled to meet Chinese President Xi Jinping, Premier Li Qiang, and Zhao Leji, head of the Standing Committee of the National People’s Congress.
The trip takes place amid global trade tensions, the ongoing conflict involving Iran, and Spain’s efforts to reduce its trade deficit, attract Chinese investment, and strengthen technological cooperation.
