U.S. Secretary of State Marco Rubio spoke by phone with Portuguese Minister of Foreign Affairs Paulo Rangel, reaffirming the strength of the U.S.-Portugal relationship and ways to deepen bilateral cooperation.
The high-level exchange, on Thursday, comes at a sensitive time as U.S.–EU trade negotiations approach a critical deadline that could impact transatlantic commerce. According to a statement by the U.S. State Department, both officials emphasized their shared commitment to promoting “transatlantic economic security and prosperity.”
Although further details were not revealed, the call coincides with the U.S.-EU tariff discussions, as the Trump administration is set to impose new trade tariffs on nearly all imports, with some sectors facing duties up to 50%, which may disrupt European exports. Portugal, like other EU member states, is directly affected.
The Bank of Portugal estimates that escalating tariffs could reduce the country’s GDP by up to 1.1% over the next three years, especially impacting key exports such as cork, wine, pharmaceuticals, and paper. In light of this, the Portuguese government has implemented an €11.1 billion support package to shield exporters and manufacturers, while urging a coordinated EU response.
Negotiations are currently focused on a potential compromise that would establish a 15% baseline tariff on most goods, with exceptions for automobiles, steel, and aluminum.
Portuguese Finance Minister Joaquim Miranda Sarmento recently expressed optimism that tariffs could ultimately be capped below 10%, which would mitigate adverse effects on Portuguese businesses and consumers.
As the August 1 deadline for a possible tariff escalation approaches, the conversation between Secretary Rubio and Minister Rangel underscores the strategic alignment between Portugal and the United States.
Further consultations and bilateral initiatives are expected in the weeks ahead, with a shared aim of reinforcing economic recovery, safeguarding supply chains, and promoting Atlantic cooperation.
Portugal and the United States maintain strong bilateral relations, encompassing trade, cultural exchange, and historical ties. The U.S. is a major trading partner for Portugal, particularly outside of the European Union. There are also significant Portuguese and Portuguese-descended communities in the United States, with a large diaspora presence.
PAJ/Staff
