Porto, Aug. 21, 2025 (Lusa) - The Portuguese Cork Association (Apcor) on Thursday welcomed the inclusion of cork products in the list of exemptions from the trade agreement between the US and the European Union, emphasising the "strategic importance" of this decision for Portugal.
"The exemption from tariffs is decisive in reversing the recent trends in Portuguese cork exports, ensuring that it will make it more competitive to access one of the most important markets for the sector," the association said in a statement.
According to the statement, this decision is "especially relevant" in a context of "high internationalisation of the industry, present in all wine-producing countries", and in which "there is no room for a market diversification strategy in the short and medium term".
For Apcor, this is "international recognition of the unique geographical specificity of cork", whose raw material is produced exclusively in the Mediterranean basin, with Portugal being the world's largest producer.
"The uniqueness of this production gives cork products a global exclusivity, making it extremely complex to move the current European production centres to the possible dynamics of re-industrialisation of the American economy," it said.
According to the association, the US is currently the world's fourth largest wine producer, with a share of around 10% of global production, and the lack of local or international alternatives capable of replacing cork stoppers "reinforces the strategic importance of these products in the US market, particularly for its wine industry".
Thanking the Portuguese government, the Permanent Representation of Portugal to the European Union (REPER), the Portuguese embassy in the USA and the local delegation of the Portuguese Agency for Investment and Foreign Trade (AICEP) for their "decisive commitment and contribution to achieving this result", Apcor considers this to be "a moment of enormous importance for the cork industry and the national economy".
"The defence of the interests of a sector in which Portugal is a world leader was ensured thanks to coordinated efforts by various entities, allowing us to strengthen the strategic position of our products in the American market," it stressed.
The European Commission said today that it had "achieved its goal" with the trade agreement with the United States of America (USA), which provides "stability and predictability" and is the "most favourable scenario" that Washington has given its partner country.
"We have reached our goal," said the Commissioner for Trade and Economic Security, Maroš Šefčovič, about the trade agreement with the US, which "carries considerable weight".
The commissioner considered that the other option was "a trade war with stratospheric customs duties that would harm everyone".
According to Maroš Šefčovič, the 15% tariffs on the EU are "the most favourable scenario the US has applied to a partner", bringing "stability and predictability" to companies and citizens in the European political and economic bloc.
According to the joint statement, released today, Brussels and Washington commit to "a framework for transatlantic trade and investment that is fair, balanced and mutually beneficial".
PD/ADB // ADB.
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