Today in Spain: A roundup of the latest news on Thursday

The European Central Bank (ECB) has reduced its benchmark interest rate by a quarter-point to 2.25%, the lowest in over two years, in response to economic uncertainties stemming from US President Trump's trade war. This decision reflects a deteriorating growth outlook due to rising trade tensions, although the ECB's shift in language signals potential limits on future rate cuts. Despite Trump's temporary tariff delay, economists warn that his protectionist policies could still negatively impact the...

When discussing complaints about American car manufacturers, a common grievance is the perceived unfairness of foreign tariffs, particularly from the EU, which imposes a 10% tariff on US autos, compared to the US's 2.5%. However, US carmakers are hindered by their own protectionist policies, such as the 25% "chicken tax" on light trucks, resulting in a lack of competitiveness in the global market, especially in the EV sector. While traditional US manufacturers focus on larger...

SummaryManfred Weber, leader of the European People's Party, has called for the EU to reconsider its total ban on new combustion engine cars after 2035, suggesting that consumers should be able to purchase petrol and diesel vehicles if their carbon emissions are offset. This statement comes amid challenges in the automotive industry, including job cuts in major companies like Volkswagen, and follows the UK's adjustment of its electric vehicle targets. Weber emphasized the need for...

Italy’s Prime Minister Giorgia Meloni is set to meet Donald Trump in Washington following inconclusive EU-US talks regarding tariffs that currently impact steel, aluminum, and cars. Meloni, who has established a rapport with Trump and advocates for negotiations rather than retaliation, aims to clarify US demands, as EU negotiators have reported a lack of transparency. While she has supported an EU proposal to eliminate tariffs on industrial goods, US tariffs are expected to remain, with...

Amid Donald Trump's trade war, Chinese officials and businesses are attempting to strengthen ties with the EU to find alternative markets for goods impacted by US tariffs, while the EU remains cautious about becoming a dumping ground. Despite calls for greater cooperation, significant challenges persist, including China's trade surpluses, market access barriers, and its support for Russia in the Ukraine conflict. Both sides recognize the need for stability and leverage against the US, but EU...

The Eurosceptic vision of a globalised Britain, distanced from Europe, has deteriorated amid Trump's trade wars, revealing differing views on China within the transatlantic alliance. While there is mutual concern over China's role as a commercial rival and security threat, Washington's hawks perceive an existential challenge, contrasting with more engagement-oriented Europeans. Britain's stance has fluctuated, with David Cameron in 2015 heralding a "golden era" of trade with China, while Boris Johnson, in 2020, yielded to...