Government Meetings with Business Associations
The Ministry of Economy has kicked off discussions today at 09:00 with various business associations to assess the potential impacts of newly announced tariffs on the national economy. These meetings, initially scheduled for Wednesday through Friday, have been moved up to today and tomorrow.
Associations Involved
The government will meet with a broad range of associations, including:
- ANIMEE - Portuguese Association of Electric and Electronic Companies
- AIP - Portuguese Industrial Association
- CIP - Industrial Confederation of Portugal
- APF - Portuguese Foundry Association
- CEFAMOL - National Association of Mold Industry
- APIP - Portuguese Plastics Industry Association
- APIB - Portuguese Rubber Industrialists Association
- APIMA - Portuguese Furniture and Related Industries Association
- AIMMP - Association of Wood and Furniture Industries of Portugal
- APPICAPS - Portuguese Association of Footwear, Components, Leather Goods, and Substitutes
- APIC - Portuguese Leather Industry Association
- ATP - Textile and Clothing Association of Portugal
- ANIVEC - National Association of Clothing and Confection Industries
- ANITLAR - National Association of Home Textiles
- ANIL - National Association of Wool Industries
- APCOR - Portuguese Cork Association
- AEP - Business Association of Portugal
- AQuimica.
Purpose of the Meetings
The objective is to evaluate the impact and mitigation measures related to the tariffs recently announced by the United States on Portuguese companies and the national economy. Minister of Economy Pedro Reis and Secretary of State João Rui Ferreira are leading these discussions to open a dialogue with sectors most affected by these reciprocal tariffs, including the automotive, fuels, rubber, electrical and electronic, metallurgy, wood and furniture, cork, footwear, leather, textiles, and clothing industries.
Impact of U.S. Tariffs
The U.S. administration announced tariffs ranging from 20% on imports from the European Union, in addition to existing 25% tariffs on the automotive, steel, and aluminum sectors. These tariffs have significantly impacted global stock markets over the past week, reflecting heightened economic tensions.
The Ministry aims to gather feedback from these associations regarding the impact of the new customs duties on European products and solicit their proposals to mitigate the effects on national exports. Furthermore, the discussions will cover what is being coordinated with the European Union to address these new tariffs and the protective measures being developed for various sectors.
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