Tariffs: Textile sector allows negotiations until August
This would be the best-case scenario, says ATP president Mário Jorge Machado. If not, a period of retaliation will follow until a basis for mutual understanding can be found.
The textile sector hopes that, by August 1st, the European Union and the United States will reach an agreement that will prevent the imposition of 30% tariffs on European products destined for the North American market. Mário Jorge Machado, president of the Portuguese Textile and Clothing Association (ATP), told JE that this is his hope.
If this is not possible, “we will enter a period of retaliation until a basis for understanding can be found” that is balanced for both parties in conflict.
For all intents and purposes, he said, if the tariffs do come into effect, "Portuguese textiles and clothing will have difficulty maintaining sales to the United States," just as it will be more difficult for North American consumers to obtain Portuguese products. It is this reciprocity that gives the ATP president some hope that the final word on tariffs has not yet been said.
jornaleconomico
