Hello everyone and welcome to ESAB's Global Economy podcast.

My name is Frederick Erickson and usually you are probably listening to me or one of my colleagues

talking on this podcast about all the different subjects that we use to cover on, international

trade, on regulation, or perhaps what is going to happen to European competitiveness.

But today we're actually doing a special episode because EYSype is going to happen to European competitiveness. But today we're actually doing a special

episode because ESAIP is about to launch a new podcast and a podcast that we are really excited

about, which is designed for Spanish speaking and Latin American audiences. And today,

I am joined by two of my colleagues who are involved in this project,

and that Oscar Guinea and Renata Silly. Welcome both. Hi, Frederick. Thank you. Hi, Frederick. Thanks.

So, you have to excuse my bad Spanish here, but Sin Arancel de Pormelio is the name of it.

And when I heard it first time, Renata, is that a Spanish recipe or a Latin American recipe for something?

Something you cook and eat?

Well, first of all, let me say that it was a perfect Spanish accent, but from Spain.

In Mexico, we pronounce it a bit different, but no, it's not a food recipe.

Actually, Arancel, well, Oscar might say, Arancel, but in Mexico we say, in a whole Latin America, we say arancel.

It means tariffs, no, it means tariff, which it's actually interesting because arancel comes from the Arabic, no, from, from, and it was imported to Spanish.

So as many other words, apparently there are like more than 4,000 words from Arabic

that are merged into modern Spanish. So Arancel is one of those, and it's used specifically for

naming export or import tariffs.

So although Tarifa is also used in Spanish,

like in the trade world, we commonly use Arancel to denote the specific international trade import taxes or export taxes.

All right.

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