Milan, Italy, Feb. 23, 2026 (Lusa) - The secretary of state for the economy, João Rui Ferreira, argued on Monday in Milan that Portuguese companies must remain focused on the American market, regardless of developments in tariffs.
"Regardless of what happens, and we hope it will be advantageous for Europe as a bloc, the American market is one that Portuguese companies should continue to watch closely," the minister told reporters on the sidelines of a visit to the Portuguese delegation, which is participating in the Micam footwear fair in Milan, Italy, from Sunday to Tuesday.
This is because, he pointed out, the mix of products that Portugal typically exports to the United States "is often where the profitability and added value lie".
Although preferring to remain "cautious" in his comments - "Because we do not yet fully understand what lies ahead," he explained, the secretary of state considered it "not good" that, after a period of instability until August last year, and when companies "finally understood what the agreement with the European Union was", a "new reality" appears to be emerging.
"Will this be a flat rate for everyone? If 10% is a reality, 15% will be another. Will the exemptions for some sectors remain in place or not? Will we be more or less competitive than other blocs?" asked João Rui Ferreira, recalling that "at one point, even with customs duties of 15%, Portugal was more competitive than some Asian blocs".
Considering that it is necessary to "wait calmly to get a clear picture" of what will actually happen, the secretary of state pointed out that "the Portuguese Government's position on customs duties must always be agreed upon, or at least aligned with that of the Commission, because trade agreements are the exclusive competence of the European Commission".
"The Commission's words were clear. The agreement has been established and must be maintained, so we clearly understand that the Commission's position seems to be moving in that direction, not least because this protects a long negotiation that was carried out for certain segments and sectors that put us in a better position, with exemptions or lower customs duties," he said.
"We are very attentive. The last thing we want now is more instability on top of a process that seemed to have gained some stability," he added.
The US President announced on Saturday that the new global customs tariff will increase from 10% to 15% "with immediate effect" after the Supreme Court ruled that most of the tariffs he had imposed were illegal.
"As President of the United States, I will immediately increase global customs duties from 10% (...) to the fully authorised level [...] of 15%," Donald Trump wrote on his social network Truth Social.
The new 15% rate was Trump's response to the decision that overturned the tariff policy, ruling that the Republican had exceeded the emergency powers invoked to impose taxes on US trading partners.
To minimise the effects of tariffs and avoid a trade war, Brussels and Washington signed an agreement in the summer whereby the EU accepted a general tariff of 15% if the US exported tariff-free industrial products to the bloc.
The vast majority of European products are subject to a 15% tariff in the US, but the EU does not yet apply the 0% tariff to US products, as it is waiting for the European Parliament to ratify the agreement.
The European Parliament's Trade Committee, which plans to vote on the agreement between Brussels and Washington next Tuesday, has called a meeting for today to analyse the implications of the US Supreme Court's decision.
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