The Prime Minister, Luís Montenegro, noted on Monday that the agreement established on Sunday night between the United States and the European Union, which provides for the application of a 15% tariff on exports starting from August 1, offers “predictability and stability,” qualities which he described as “vital for Portuguese companies and the economy.”
“The EU-US trade agreement brings predictability and stability, crucial for Portuguese companies and the economy. It avoids escalation but sets new demands in the pursuit of more trade agreements, cutting barriers, and transforming the agenda of simplification and cost reduction,” Luís Montenegro wrote on the social media platform X (Twitter).
This view had already been communicated by the Ministry of Foreign Affairs (MNE), which emphasized that the Portuguese Government “congratulates and thanks” the European Commission for its “commitment to achieving this platform for the stabilization of trade relations.”
The ministry further highlighted that “nothing replaces the freedom of trade,” stating that it is “essential for the EU and Portugal not to abandon the fight for the progressive reduction and elimination of customs duties and equivalent trade barriers with the US, as well as with other trade partners.”
It added: “Within this new framework, Portuguese companies can count on the full cooperation of the Portuguese Government to mitigate negative effects and facilitate access to new markets.”
Lusa | 11:54 – 28/07/2025
The government also reaffirmed the importance for the 27 member states to promote “new free trade agreements” and “accelerate the entry into force of those already negotiated, namely the Mercosur agreement.”
The trade agreement announced on Sunday in Turnberry, Scotland, by the US president, Donald Trump, and the president of the European Commission, Ursula von der Leyen, sets US tariffs on European products at 15%.
Notícias ao Minuto com Lusa | 08:08 – 28/07/2025
The agreement also includes the EU’s commitment to purchase $750 billion (approximately 642 billion euros) worth of US energy—aiming to replace Russian gas—and the investment of an additional $600 billion (514 billion euros), besides increasing the procurement of military equipment.
The two main trading powers exchange approximately 4.4 billion euros in goods and services daily, and Washington had threatened to impose tariffs of 30% on all European imports starting from August 1.
