Bernard Spragg. NZ / Flickr
Refined oil and medicines are now exempt from 10% rates imposed by Trump. The market is firing and retracting, like the decisions of the US President.
Portugal exported more than 5 billion euros to the US in 2024. Like Zap, the main exported products are refined oil and medicines.
These products are, for now, exempt from the 10% customs rates applied by the US President, who announced last week a 90-day truce at higher rates.
In fact, according to the newspaper based on AICEP data, almost half (44,5%corresponding to 2365 million euros) of the products exported to the US They are not currently subject to tariffs. However, as has been observed, Donald Trump’s cloths are volatile, and the US president has already threatened to stop considering drugs an exception to the rule.
According to the newspaper, 15% of Portuguese exporting companies to the US depend fully of that market.
Uncertainty dictates a nervous market
Uncertainty is the word that defines the US market for Portuguese companies today. According to Paulo Gonçalves, communication director of the Apiccaps footwear sector association, “suddenly, in recent days, we have companies to ask workers to do overtime to be able to respond to orders two United States ”.
The sudden demand, with orders with an urgent delivery indication, is due to the suspension for 90 days of the rates announced by Trump. But the data provided by the show that The market is shared and uncertain.
In contrast to the boom search in February (419.8 million euros), January was a month of retraction (329.3 million euros). A true Russian mountain, which changes the rhythm of the US President’s catadupa decisions.
Paulo Gonçalves points to a “Positive landBut the high potential market in the US, the world’s largest importer of shoes, is falling (4.6%). ”And“ nothing guarantees that Trump does not anticipate this deadline, or extend it or even eliminates tariffs in some sectors, ”he warns.
