Minister of Labor and Social Economy Yolanda Diaz (R) poses with Spain's Minister of Science and Innovation Diana Morant for a selfie photo during a visit to the Ford factory in Almussafes, near Valencia on July 23, 2026. US automaker Ford announced today that it plans to create a joint venture with Chinese group Geely at its struggling Spanish plant in Valencia, which will produce four additional models for both companies. (Photo by JOSE JORDAN / AFP via Getty Images)

Spain's Prime Minister Pedro Sanchez (L) and Regional President of Valencia Juan Francisco Perez Llorca speak during a visit to the Ford factory in Almussafes, near Valencia on July 23, 2026. US automaker Ford announced today that it plans to create a joint venture with Chinese group Geely at its struggling Spanish plant in Valencia, which will produce four additional models for both companies. (Photo by JOSE JORDAN / AFP via Getty Images)

CEO of Geely Auto International Corporation Alex Nan (L) and President at Ford of Europe Jim Baumbick take part in a press conference at the Ford factory in Almussafes, near Valencia on July 23, 2026. US automaker Ford announced today that it plans to create a joint venture with Chinese group Geely at its struggling Spanish plant in Valencia, which will produce four additional models for both companies. (Photo by JOSE JORDAN / AFP via Getty Images)

Victor Yang Xueliang (L), senior vice president of Geely Holding Group (L) and Jim Baumbick, president at Ford of Europe, hold a joint press conference at the Ford factory in Almussafes, near Valencia on July 23, 2026. US automaker Ford announced today that it plans to create a joint venture with Chinese group Geely at its struggling Spanish plant in Valencia, which will produce four additional models for both companies. (Photo by JOSE JORDAN / AFP via Getty Images)

Victor Yang Xueliang (L), senior vice president of Geely Holding Group (L) and Jim Baumbick, president at Ford of Europe, hold a joint press conference at the Ford factory in Almussafes, near Valencia on July 23, 2026. US automaker Ford announced today that it plans to create a joint venture with Chinese group Geely at its struggling Spanish plant in Valencia, which will produce four additional models for both companies. (Photo by JOSE JORDAN / AFP via Getty Images)

Victor Yang Xueliang (L), senior vice president of Geely Holding Group (L) and Jim Baumbick, president at Ford of Europe, hold a joint press conference at the Ford factory in Almussafes, near Valencia on July 23, 2026. US automaker Ford announced today that it plans to create a joint venture with Chinese group Geely at its struggling Spanish plant in Valencia, which will produce four additional models for both companies. (Photo by JOSE JORDAN / AFP via Getty Images)

LONDON, ENGLAND - JULY 23: Conservative Leader Kemi Badenoch gives a speech at IET (Institute of Engineering and Technology) on July 23, 2026 in London, England. Conservative Leader Kemi Badenoch is demanding that the new Labour Prime Minister, Andy Burnham, explicitly rule out tax rises to fund what she calls a "spending spree". Since Burnham took office he has has introduced a flurry of immediate "cost of living" measures including scrapping the 5% VAT on domestic electricity bills, bringing back the £2 maximum bus fare cap and Introducing a 20% cut in business rates for pubs, clubs, and live music venues. (Photo by Dan Kitwood/Getty Images)

(FILES) European Central Bank (ECB) President Christine Lagarde addresses a press conference on the Eurozone's monetary policy, at the central bank's headquarters in Frankfurt am Main, western Germany, on April 30, 2026. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)