Finance: Trade tariffs news in Portugal

European leaders meet to debate Trump's new tariff threats

Portugal in favour of a European response to Trump's tariffs

EU responds firmly to Trump's tariffs and warns of 'dangerous spiral' that could lead to suspension of trade agreement with the US

Audi announces factory for the USA and is crucified in Germany

Audi has announced the construction of its first factory in the USA, the result of a 4 billion dollar investment. However, this comes at a time when the VW Group is closing factories in Germany.

Portugal Among Hardest Hit by US Tariffs

Tariffs: Portugal admits to more uncertainty and volatility following Trump's announcement

At issue are the recent threats by US President Donald Trump to move forward with new tariffs on the EU

Trump threatens EU with tariffs if it admits Canada as an associate member

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.

If they do that, I will impose tariffs and stop trading with Europe in many sectors

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.

Trump threatens EU with tariffs if it admits Canada as an associate member

US President Donald Trump has threatened to react to the European Union's admission of Canada as an associate member by imposing additional “very heavy” tariffs on the bloc.

USA imposes tariffs of up to 100% on drone imports

The USA justifies the measure with the need to ensure “national security”, with drones and components from the European Union being taxed at 15%.

Trump threatens new tariffs against EU over Google fine

The U.S. president’s social media post could signal a coming breach in last fall’s Turnberry agreement.

politico.com24 Jul

Trump threatens EU with "substantial" tariffs due to fines imposed on Google

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.

Trump threatens EU with “substantial tariff” if it does not back down on fines for Google and other tech companies

The President of the United States of America (USA), Donald Trump, announced this Friday that the country will “immediately begin an investigation” into the European Union for “stealing American companies,” via a post on the social network Truth Social. Furthermore, the president threatened the community bloc with new tariffs. “The European Union will pay a ...

Trump administration changes legal strategy for new tariffs against more than 80 countries

The United States has announced a new package of tariffs affecting over 80 countries, shifting its legal approach after courts blocked previous measures. The new duties, ranging from 10% to 12.5%, are based on the Trade Act of 1974, which allows the US to respond to foreign trade practices deemed unjustified or discriminatory. While the administration claims these tariffs address the lack of effective bans on forced labour imports, several nations, including Brazil, Japan, and Australia, have criticised the move as protectionist and unjustified. Meanwhile, countries like Canada and Mexico are navigating the impact through existing trade agreements and ongoing negotiations.

Trump administration changes legal strategy on new tariffs against more than 80 countries

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...

EU responds to Trump after threat of 100% tariffs

The US President threatened to impose 100% tariffs on European countries that implement a tax on digital services. “Unilateral measures against legitimate policies are unjustified,” says Brussels.

New forced labor tariffs are in line with US-EU deal, insists Trump trade official

“We understand that a deal is a deal,” U.S. Trade Representative Jamieson Greer says in Paris.

US plans additional tariffs of at least 10% on 60 countries over forced labour

The United States has announced plans to impose additional tariffs of between 10% and 12.5% on 60 countries following an investigation into forced labour practices, including the European Union (EU). According to the Office of the United States Trade Representative, these 60 countries, which include China, the EU, India, Japan, and others...

Europe in Trump's sights for new tariffs amid 'forced labour' accusations

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.'

Trump's threat to increase tariffs on European cars does not scare the automotive industry in Portugal

“The American continent represents only 2.4% of direct exports from our production, which indicates that direct exposure to the North American market is limited,” concludes ACAP - the Portuguese Automotive Association. However, the national components industry may suffer some indirect effects from the tariff hikes that Trump announced for European cars.

European car manufacturer stocks fall after Trump threat

The US President threatened on Friday to impose 25% tariffs on European cars. Shares of major brands are losing value this Monday.

Stellantis to produce Chinese cars in Spain

The Chinese company Leapmotor produced its first car in 2019 and sold 20% to Stellantis in 2023. It will now produce in Spain to avoid tariffs, with the B05 model already being €11,000 cheaper than the Peugeot E-308.

German automotive industry calls for "rapid opening of negotiations" between EU and US

The German automotive industry called today for the “rapid opening of negotiations” between the United States and the European Union (EU), after the US President announced 25% tariffs on cars and trucks.

Which regions are most affected by Trump's tarrifs?

Home News Which regions are most affected by Trump's tarrifs? Which regions are most affected by Trump's tarrifs?

Study warns the North will be the region most affected by Trump's tariffs

A study warns that the northern region (Norte) will suffer the greatest impact from tariffs imposed by US President Donald Trump, affecting local industries and jobs.

The North will be the region most affected by Trump's tariffs

The North is expected to be hit hardest because it concentrates many of the activities most exposed to the tariff increases. A study estimates negative impacts on the region's production of around €300 million.

European Parliament again delays green light for EU–US trade agreement

The European Parliament has again failed to give the “green light” to the trade agreement between the European Union and the United States. After freezing approval last week in response to threats of additional tariffs on European countries over Greenland, the Parliament has now postponed a new vote until 4 February...

Manuel Caldeira Cabral: “The tariffs being talked about would have absolutely destructive effects on trade with the US”

The former Minister of the Economy stresses that Portuguese companies have managed to withstand the impact of Trump’s tariffs so far. But he warns the damage could be significant if the new measures, now announced in connection with Greenland, are imposed — they could be quite serious.

Brussels says Washington's tariffs are a mistake

The President of the European Commission says the United States' additional tariffs are a mistake. At the World Economic Forum in Davos, Switzerland, Ursula von der Leyen pledged to work with the White House on Arctic security.