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Spanish residents share views on Trump's tariff threats

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Spanish residents share views on Trump's tariff threats

2025-01-09 17:20 Last Updated At:20:57

U.S. President-elect Donald Trump's recent tariff threats have been dismissed by Spanish residents, though many believe the move will likely have a limited impact on consumers.

Trump stated in December 2024 that the European Union should increase its imports of U.S. oil and gas or face tariffs on its exports, which include goods such as cars and machinery.

Throughout his election campaign, Trump threatened to impose tariffs ranging from 10 to 20 percent on all products from the United States' trading partners, including the European Union.

Speaking in street interviews with China Global Television Network (CGTN) in Madrid, residents criticized the U.S. president-elect's move as a protectionist approach that bears bad consequences.

"He already did that during his previous term, which created challenges for the entire planet. It appears to me that this complicates international relations," said Juan Grau, a resident.

"It looks like yet another action from Donald Trump – unreasonable and one-sided, without regard for the potential consequences for his people and country, as well as the conflicts that might emerge," said Marta Linares, another resident.

"It's a mistake in a globalized world where goods and trade have a general flow, and nothing will go well in that protectionist way," said resident Pablo Martinez.

Most of those interviewed said they believe the U.S. imposing tariffs will have a negative economic impact on Spain and Europe overall.

"I believe the impact on Spain will be significant because, after all, we have a series of businesses or products that the American market demands," said Linares.

"I believe it will affect the European economy overall, because, broadly speaking, when one country imposes tariffs on other countries, those countries will also take similar retaliatory measures against that country, resulting in a contraction. Everything will grind to a standstill," said Martinez.

However, people expressed the belief that the move will have a limited impact on individual consumers.

"As a consumer, I realize that ultimately, this creates a snowball effect. Initially, it shouldn't impact me too significantly since I'm not a business owner. However, this is indeed a snowball effect. When one product gets more expensive, it triggers a chain reaction, and eventually, it will certainly affect me in some way," said Linares.

"I don't believe it will affect me at all. It may have an impact on the global economy, which could lead to a decrease in people's purchasing power, but beyond that, I can't really say," said Pamela Ravina, another resident.

"In the short term, I don't anticipate any impact since that's more of a business issue. As a consumer, I think it won't affect us in the immediate future," said resident Yago Martinez.

Spanish residents share views on Trump's tariff threats

Spanish residents share views on Trump's tariff threats

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China sees progress in re-lending programs for tech innovation, equipment renewal

2025-01-10 06:24 Last Updated At:07:17

The People's Bank of China (PBOC) reported significant progress in its re-lending programs for technology innovation and equipment renewal on Thursday, with relevant contracts worth nearly 1 trillion yuan (about 140 billion U.S. dollars) signed.

By the end of 2024, China's commercial banks had signed loan contracts with a total value of 115 billion yuan (about 16 billion U.S. dollars) with over 5,000 science and technology enterprises, and disbursed loans of nearly 50 billion yuan (about 6.8 billion U.S. dollars) to enhanced the financing accessibility for medium and small-sized sci-tech companies, according to the latest data from the PBOC.

Financial support for large-scale equipment renewal has also made notable progress, with continuous growth in loan signings and implementations.

By the end of 2024, the commercial banks had engaged with 22,000 equipment renewal projects in China, basically achieving full financing coverage, and signed loan contracts with enterprises, providing 800 billion yuan (about 109 U.S. dollars) for them to draw funds at any time.

At the year-end, the weighted average interest rate for equipment renewal loans was 3 percent, and the actual financing cost was reduced to 1.5 percent, combined with central government subsidies. 。 The PBOC said it will further optimize the re-lending process, expand the scale of equipment renewal loans, and stimulate market entities to unleash demand for equipment renewal.

China sees progress in re-lending programs for tech innovation, equipment renewal

China sees progress in re-lending programs for tech innovation, equipment renewal

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