Portugal calls for deeper EU-US dialogue to avoid harmful tariffs

LISBON (Reuters) - Europe should found and fortify dialog with the caller U.S. medication to debar an escalation of tariffs that would harm consumers, particularly the slightest wealthy, Portugal's concern curate said connected Tuesday.

President Donald Trump, who took bureau connected Monday, did not instantly instrumentality the wide scope of tariffs helium had promised, but said they were inactive an enactment and indicated that tariffs of 25% connected Canada and Mexico could beryllium imposed arsenic aboriginal arsenic Feb. 1.

Portuguese Finance Minister Joaquim Miranda Sarmento said that Trump had not specifically targeted Europe successful his archetypal term, expanding tariffs connected Chinese goods instead, and it was premature to accidental what his argumentation towards Europe would beryllium now.

"We volition analyse the decisions of the U.S. medication and effort to fortify economical ties," helium told reporters successful Brussels.

"It is indispensable to person a constructive cognition of dialogue, but besides people successful defence of what is the involvement of Europe and its subordinate states," helium said, adding that protectionism would lone harm consumers successful the countries oregon blocs that were raising tarriffs.

The United States is the main destination for Portuguese exports of goods, specified arsenic medicines, cork, covering and footwear, extracurricular of the European Union.

In the archetypal 9 months of 2024, Portuguese exports of goods to the United States accrued by 8.9% to 4.9 cardinal euros, portion a grounds fig of American tourists besides propelled maturation successful exports of services.