Sabadell organizes a conference to analyze the impact of tariffs and the new leadership

The session was well attended, both in person and online. Fernando Canós, Territorial Director and General Director of Banco Sabadell, highlighted the importance of collaborating with the CEV to bring these events of general interest closer to companies and analyze the current situation and the possible consequences of the complex geopolitical landscape.

The round table, moderated by carlos dalmau, International Director of Banco Sabadell, focused on the analysis of the tariff policies and its impact on the international trade. Ricardo SantamariaThe Director of Country Risk and Debt Management at CESCE offered an overview of the causes and consequences of the rise in protectionism. "The easy answer is to say: 'Well, because Trump believes in tariffs, because for Trump, tariffs are the most beautiful word in the dictionary,'" Santamaría explained, but he delved into the more complex roots of the phenomenon, such as "the rivalry between powers, the rivalry between the United States and China", and the change in the American leadership model, which has come to be characterized by 'imposition, coercion, the use of capability, force and power.'"

Santamaría also analyzed China's strategy in this new scenario. "What China is proposing to the rest of the world is an approach that basically seeks to assume the leadership based on alliances that Trump is abandoning," he stated, highlighting China's emphasis on thestrengthening multilateralism"and international cooperation for development." The European Union also played a central role in the debate. Santamaría emphasized the need for the EU to act with unity and strength. "Everyone knows that Germany is the economic engine of the European Union and much more. It is the political epicenter and the fundamental power. Therefore, this turbulent world in which we live demands that the European Union be more united and stronger than ever,” he warned.

Alejandro ArolaThe president of the Arola Group contributed his experience in logistics and customs to unravel the complexity of the current tariff landscape. "There are two laws that Trump is using: the National Emergency Powers Act and the International Emergency Economic Powers Act", which is implemented with the Trade Act of 1974," Arola explained, detailing the different types of tariffs in force and their implications for companies.

Arola also offered practical recommendations for businesses. The impact of Trump's policies on shipping was another key topic. "We observed that traffic between two countries can have a very profound impact on global trade, on the maritime transport"Arola pointed out, warning about the "40% decrease, 40% and change, in the availability of containers leaving China for the United States" and the consequent "increase in freight costs."

The session concluded with the presentation of Salvador NavarroThe president of the CEV, who summarized the main conclusions of the debate and emphasized the importance of companies being prepared to face the challenges of the new geopolitical context. "Without a doubt, the entire philosophy and everything that existed in this globalized world is changing; as we said, it can change, and unfortunately, it won't change for the better unless we make decisions," Navarro concluded, calling for action.