“We have no doubt that these tariff issues will lead to significant inflation and a consequent rise in prices. […] This is clearly an anti-globalization policy that distances people. The tourism industry is exactly the opposite—it brings people closer,” argued Francisco Calheiros, president of CTP, while speaking to journalists at the conclusion of the Social Consultation meeting in Lisbon.
While noting that the impact may not be felt in the short term, Francisco Calheiros expressed concerns that the tourism sector could be affected in the medium term, highlighting that the American market, along with the Canadian, has shown the most growth.
The president of CTP reiterated that what is currently happening “is not good” and thus called for “common sense.”
U.S. President Donald Trump announced on Wednesday the imposition of a global base tariff of 10% on all countries he believes are creating trade barriers against American products, with an additional tariff for those he considers the “worst offenders.”
A 20% tariff will be applied to all imports from the European Union.
