The trade agreement between the European Union (EU) and the United States, reached on Sunday, sets U.S. customs tariffs on European products at 15%.
In a statement, the ministry remarked that “the understanding reached between the European Union and the United States of America represents an essential step for the predictability and stability” needed by businesses.
According to the ministry, “at a time marked by tensions and uncertainty in international trade,” an escalation of protectionist measures was avoided, ensuring clearer conditions for exporting companies.
“Nevertheless, nothing replaces the freedom of trade,” it noted, emphasizing that “this is precisely why Portugal will maintain an active stance in promoting the gradual elimination of tariffs and other trade barriers.”
The government recalled that, in this context, it approved the Reforçar Program in April, with “a set of support measures for companies, aiming to mitigate any adverse effects.”
The ministry stated that “under the BPF INVEST EU lines, 14,000 applications were received, totaling 3.2 billion euros, of which 2.5 billion have already been approved and 1.6 billion disbursed to companies.”
It also highlighted the launch of the BPF INVEST EXPORT PT line, dedicated to exporting SMEs, which already has 2,600 applications worth 1.3 billion euros, noting that 600 million of this amount is already approved.
Under the new PT2030 Incentives Program, a non-repayable grant line for internationalization support was launched, aimed at joint projects, promoting a collaborative approach in external markets, with the schedule for collective internationalization action notices brought forward, opening on July 31.
The agreement includes the EU’s commitment to purchase 750 billion dollars (about 642 billion euros) worth of American energy, specifically to replace Russian gas, invest an additional 600 billion (514 billion euros), and increase acquisitions of military equipment.
The U.S. and EU countries exchange about 4.4 billion euros in goods and services daily.
