Latest news and stories about economic impact in europe in Portugal for expats and residents.
The White House has introduced new tariff guidance for the EU, featuring rates between 10% and 12.5% and 465 product exemptions, though analysts warn this relief may be short-lived amid ongoing trade tensions.
Trade expert Ignacio García Bercero advises the EU to pursue a conditional agreement with the US, citing ongoing uncertainty regarding the Trump administration's tariff policies as the European Parliament prepares to deliberate on the Turnberry deal.
Donald Trump is considering imposing restrictions or quotas on US diesel exports to lower domestic prices ahead of the midterm elections. This threat has raised concerns in Europe, which relies heavily on US diesel, potentially leading to a 'refining shock' that would drive up global prices and inflation, particularly affecting sectors dependent on road transport and logistics.
US President Donald Trump has threatened to react to the European Union's admission of Canada as an associate member by imposing “very heavy” additional tariffs on the bloc. Responding to the proposal put forward by the European bloc on Wednesday, Trump conditioned the fulfillment of his threat on the “intentions” of European leaders: “If it is a good intention, that's fine. If it is a bad intention, we will impose very heavy tariffs on Europe,” he stressed. Speaking to journalists upon his arrival in Charlotte, North Carolina, Trump also suggested that Washington could consider the partnership between Ottawa and Brussels a “hostile act” and cut trade with Europe on “many things.” Trump described the prospect of Canada joining the EU as “ridiculous” and described the neighboring country, with which he is involved in a tariff war, as a “terrible trading partner.” European Commission President Ursula von der Leyen proposed on Wednesday that Canada become the EU's first associate member, taking the relationship between the two blocs to the highest possible level. “I would like to work with you to open the door for Canada to be the EU's first associate member,” announced Ursula von der Leyen, addressing Canadian Prime Minister Mark Carney, who attended the sixth State of the Union address by the head of the community executive at the European Parliament. “We will move from CETA [EU-Canada Comprehensive Economic and Trade Agreement] to an Alliance for the Future, with the goal of creating a space of common prosperity and economic security,” she added, also highlighting Arctic security as a common concern. Carney will address MEPs this Thursday, September 17, in a speech that Von der Leyen will attend.
Donald Trump was displeased to learn that Canada might join the European Union. He is now threatening Europe with new tariffs should this alliance between Brussels and Canada take place.
There may be political reasons for the administration to avoid another major tariff escalation before November. However, if Trump's second term has set any pattern, it is that tariff disputes can escalate – and change course – rapidly
The U.S. president’s social media post could signal a coming breach in last fall’s Turnberry agreement.
The statement comes days after Google was fined 890 million euros by the EU, after it was found that its search services violated online competition laws.
The European Commission is seeking clarification from China regarding the inclusion of 14 European companies on its export control list, a move seen as retaliation for sanctions imposed by Brussels. The Commission is currently assessing the impact of these measures and coordinating with member states and the affected businesses. China's Ministry of Commerce described the EU's recent sanctions as 'outrageous acts,' leading to the new restrictions on companies from countries including Italy, Germany, France, Poland, the Netherlands, the Czech Republic, Bulgaria, and Lithuania. These firms are now prohibited from receiving Chinese exports of dual-use goods, with Beijing citing national security and non-proliferation obligations as justification.
The United States announced a new package of tariffs for more than 80 countries on Thursday, using different legal methods after courts blocked part of the previous measures. The new rates, between 10% and 12.5%, come into effect at 00:01 on Friday, US East Coast time (07:01 in Lisbon), in...
The announced decision represents a new attempt by Trump to maintain a tariff policy that has used different legal instruments since his return to the White House in 2025
The day was calm, but the night was one of anxiety and the aftermath one of disbelief. 'It never crossed my mind that the Leave side would win the referendum,' recalls Ricardo Evangelista, director of the brokerage firm ActivTrades, to ECO regarding the emotions he felt 10 years ago on the day of the Brexit referendum. The Portuguese national, who at that...
Another episode in the trade war launched by Donald Trump. This time, the announcement comes with an accusation of 'forced labour' from the US Trade Representative. The US President is moving forward with a new wave of customs tariffs after the previous one was struck down by the country's Supreme Court. At stake are tariffs of 10% and 12.5% on 60 economies worldwide, including Europe. The move follows an official statement from the Office of the United States Trade Representative, an executive body that reports to the US President, currently Donald Trump. The document outlines the intention to impose tariffs on imports arriving in the world's largest economy from some of its major partners. The administration intends to apply 10% tariffs to EU member states, as well as the UK, Canada, Mexico, and Taiwan, among others. A higher rate of 12.5% is planned for China, India, Japan, South Korea, Brazil, and Switzerland. The rationale is to apply lighter tariffs to economies that prohibit imports made with forced labour or have committed to doing so, while others will face higher rates. 'It is unacceptable that our most important trading partners do not address the issue of importing products made with forced labour,' states US Trade Representative Jamieson Greer in the document. 'This creates a situation where American workers are forced to compete globally on unequal terms,' he adds, concluding that 'we will no longer tolerate this disparity.'
The author criticizes liberals and neoliberals for abandoning free-market principles to protect the German steel industry from cheaper Chinese imports. While these groups advocate for free trade when it comes to smaller economies like Portugal—leading to domestic deindustrialisation—they quickly pivot to protectionist measures when major powers like Germany are affected. The text argues that these policies create market distortions that ultimately harm downstream manufacturing industries in other EU member states, including Portugal, by increasing production costs.
The President of the European Commission guarantees that Europe is prepared for all scenarios. This is the response to Donald Trump's threat to increase tariffs on cars imported from Europe.
The European Parliament official responsible for trade agreement negotiations between Brussels and the United States called today for a response “with greater clarity and determination” to the 25% tariffs on cars and trucks. “We have already witnessed these arbitrary attacks from the United States in the case of Greenland. This is not how partners are treated...
The European Parliament's lead negotiator for the EU-US trade agreement has called for a firm response to the 25% tariffs on cars and trucks. Bernd Lange, chair of the International Trade Committee, rejected Donald Trump's accusations that the EU is violating the trade deal, labelling the US President's behaviour as unreliable and arbitrary. The EU maintains it is fulfilling the agreement and has warned that it has trade defence instruments ready to protect its interests.
US President Donald Trump accused the European Union of violating a trade agreement and announced a tariff hike to 25% on EU-manufactured vehicles. The European Commission denied the accusations, stating it is fulfilling its commitments and warned that it will keep all options open to protect its interests if the US takes incompatible measures.
The social media post comes amid simmering trade tensions between the EU and U.S. on the terms of the trade agreement they reached last year.
The European Commission admits that the crisis in the Middle East, which has already caused a 24 billion euro increase in the energy bill, will have a “serious” and “long-lasting” impact and argued that measures taken by Member States to mitigate the impact of rising fuel prices must be “temporary”. Brussels guarantees that...
Pedro Frazão, a commentator for CNN Portugal, reflects on the economic impacts of the US war against Iran on Portugal, analysing the possibility of Europe joining the conflict.
Francisco Cudell, a security affairs expert, details the impacts of ending the European Union's trade agreement with Israel for Europe itself.
Following Donald Trump's recent statements and the conditional suspension of military operations, the central issue is no longer the end of the conflict, but the form of instability that will follow — with direct consequences for energy, markets, and growth in Europe.
Germany’s Friedrich Merz warns the economic fallout from the war in Iran is on track to rival that of the Covid pandemic or the Russian invasion of Ukraine.
Israel confirmed the death of three journalists during an attack in southern Lebanon, claiming it eliminated an 'infiltrated terrorist' and that one of the journalists had strong ties to Hezbollah. We are following all developments minute by minute.
Spanish Prime Minister Pedro Sánchez described the joint US-Israel operation against Iran as an “absolute disaster” during a parliamentary session. He reaffirmed Madrid's opposition to the Middle East conflict, citing thousands of deaths, millions of displaced people, and severe global economic consequences, including rising fuel prices and market losses. Sánchez contrasted the current situation with the 2003 Iraq War, noting that the potential impact is far greater. He also confirmed that Spain has refused to allow the US to use Spanish bases for operations in the conflict, asserting Spain's sovereignty.
The European Parliament will address its negotiating position regarding the EU-US agreement, advocating for the inclusion of a clause that allows for suspension should the US impose new tariffs or threaten the integrity of any of the 27 member states.
Helena Matos, a commentator for CNN Portugal, believes that Europe will “suffer the economic impacts” of the conflict in the Middle East and, perhaps, “a new refugee crisis.”
With European gas prices soaring by 35%, Macron called for a truce and direct negotiations between Washington and Tehran to stop the spread of war in the Middle East.
Arriving at the European Council, Luís Montenegro reaffirmed the importance of supporting Ukraine. The Prime Minister stated that the crisis resulting from the Middle East conflict requires the European Union to have greater energy autonomy and reduced dependency for its businesses. Montenegro insisted that EU and NATO countries should contribute to ending the conflict through diplomatic negotiations. He also noted that Portugal has been using its diplomacy to encourage all parties to resume talks. Furthermore, Montenegro mentioned he would raise the economic impact of recent storms in Portugal, specifically Storm Kristin in the central region, with his colleagues and the European Commission.
