Porto, Portugal, April 4, 2025 (Lusa) - The Textile and Clothing Association of Portugal (ATP) says that the new tariffs announced by the US on imports from the European Union will have "a significant impact on business" for companies in the sector, but says it is still "difficult to quantify" the losses. "We are still in the early stages of this process and there are still many uncertainties as to how the different countries concerned will react to these measures," an official source from the association told Lusa. In addition, he said, it is still necessary to "understand how US operators and consumers themselves, who will be directly affected, will respond, as well as what the Trump administration's position will be in the face of possible retaliation". "We already know that there will be losses for the sector, but at the moment it is difficult to quantify their impact precisely. This is a very diverse and complex sector, with levels of dependence on the US market that vary significantly from company to company and from product to product," he said. According to the ATP, the United States is "a very important market" for the Portuguese textile and clothing industry, standing out as the 4th main destination for the sector's exports and representing around 8% of the total. In this context, he points out, "it is clear that a 20% increase in import tariffs, which for some products were already very high (reaching up to 32% in the case of clothing items), will have a significant impact on the business of companies operating in this market". ATP - which is among the 16 business associations from various sectors called to a round of meetings with the Ministry of the Economy to assess "the impact and mitigation measures" of the new tariffs - says it is currently "collecting and analysing more detailed information, with the aim of presenting the government with a clear and well-founded picture of the state of affairs". The ministry of the economy will meet next week with 16 business associations from various sectors to assess "the impact and mitigation measures" of the tariffs announced by the US President, the government announced on Thursday. These meetings will take place from Wednesday to Friday in Lisbon and Porto, and will also include representatives from the Portuguese Investment and Foreign Trade Agency (AICEP), IAPMEI, Compete, the Directorate-General for Economic Activities (DGAE) and the Portuguese state Development Bank (BPF). The aim is to "open a channel for dialogue with the sectors that will be most affected by the “reciprocal tariffs” model", namely the automotive industry, fuels, rubber, the electrical and electronics sector, metallurgy and metalworking, wood and furniture, cork, footwear, tanning, textiles and clothing, home textiles and wool, as well as the employers' associations AIP, CIP and AEP. On Wednesday, Donald Trump announced new US tariffs of 20% on products imported from the European Union, in addition to those of 25% on the automotive, steel and aluminium sectors. Trump's new tariffs are an attempt to grow US industry while punishing countries for what he said were years of unfair trade practices. The new tariffs were imposed by the United States on all imports, with surcharges for countries considered particularly hostile to trade. PD/AYLS // AYLS Lusa