João Relvas / Lusa
The Assistant Minister and Territorial Cohesion, Manuel Castro Almeida.
The minister of territorial cohesion said today that, regardless of the future of the trade war, it will be the same and warned of the possible trade invasion of Europe by China.
“Whatever the future of this trade war is now started, Nothing will be equall, ”said the minister of territorial cohesion, Manuel Castro Almeidawho spoke in a session dedicated to PRR, organized by the mission structure recover Portugal in Lisbon.
For the ruler, the confidence, stability and predictability were affected And even if the trade war does not have a direct relationship with Portugal, the remaining tension between the US and China will have “huge effects” to Europe.
“It is very easy to think that The Chinese will try to invade Europe from a commercial point of view, which It can be dramatic For our economic system, ”he said.
The minister said that Portugal has to be prepared to face adversity, insisting that there is a climate of instability in the worldthat “does not increase anything good.”
On Thursday, the government approved a package of measures that aims to respond to the tariff war situation started by Donald Trump, in a total investment of.
The largest slice of this package by reinforcing the funding line warranty lines: 8,685 million euros. Another 1.200 million euros will be reserved for export credit insurance, and 200 million are intended to reinforce the support for internationalization.
The European Union to apply new 25% tariffs that had been decided in retaliation for 25% on aluminum and steel imports adopted by the United States, which also imposed a 20% rate on cars.
Donald Trump’s announcement of suspension for three months Of the so-called reciprocal tariffs, a commercial strategy apparently based on one ideas, led to the decision of the community executive to pause the 25% adopted on Wednesday for the same period.
The European Commission estimates a economic impact of up to 0.6% In the Gross EU domestic product for new permanent US customs rights, which would be five times worse in the United States by the tariff war started by the country.
The Chinese government announced Friday in imposed rates on products from the US, keeping the background policy Against the increases in the rates on Chinese goods decreed by Washington.
This value is greater than 84% announced on Wednesday.
The two largest economies in the world intensified rapidly, at a time of great market volatility.
China insists that it does not want a trade war, but Chinese president, Xi Jinping, has said that his country “No afraid” of Trumpnor of the trade war.
