Textile expects lay-offs or redundancies?
Mário Jorge Machado told Jornal de Negócios that the negotiations between Brussels and Washington could also result in a significant increase in tariffs, which will mean that some companies may be forced to resort to lay-offs or even dismiss staff.
Jorge Machado also recalls that Portuguese companies export "around 500 million euros a year, or 8% of the total value" to the U.S., he told Renascença, visibly concerned about the impact of the tariffs on European imports from the United States, announced last Saturday, July 12, by President Donald Trump.
According to Jorge Machado, Portugal was "one of the few markets that grew last year and even had some growth in the first few months of this year, because orders were already placed at the end of last year, but it's a situation that could change," he continued
Jorge Machado added that the textile sector still hopes that, by August 1st, the European Union and the U.S. will reach an agreement that will prevent the establishment of tariffs of 30% on European products, according to O Jornal Económico.
Otherwise, "Portuguese textiles and clothing will find it difficult to maintain sales to the United States" and, as a result, U.S. consumers will find it difficult to get to/buy Made in Portugal, he concluded.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
LeMonde
6 minutes ago
- LeMonde
EU increases pressure on Russia with 18th sanctions package
After six weeks of debate, the 27 EU member states reached agreement on Friday, July 18, on an 18 th package of sanctions against Russia for its war in Ukraine, targeting both the energy sector and the Russian banking system. This move increased pressure on Russia just days after Donald Trump announced on Tuesday, July 15, the sale of weapons to NATO countries for Ukraine and gave Vladimir Putin a 50-day ultimatum, threatening further sanctions. "The EU just approved one of its strongest sanctions package against Russia to date," said EU foreign policy chief Kaja Kallas on Friday morning. "We will keep raising the costs, so stopping the aggression becomes the only path forward for Moscow," she added. "We are striking at the heart of Russia's war machine," emphasized Ursula von der Leyen, the president of the European Commission, who noted, when presenting the sanctions proposals, that Russian oil continued to generate substantial revenue for the country. "Done! This morning, we Europeans have adopted unprecedented sanctions against Russia and against the countries providing their support. France has played a key role in this decision. Together with the United States, we will compel Vladimir Putin to agree to a ceasefire," said French Foreign Minister Jean-Noël Barrot on X. French diplomats said they were behind half the measures adopted by the 27 member states. Ukrainian President Volodymyr Zelensky also welcomed the new European sanctions against Moscow, which he described as "essential and timely."
France 24
37 minutes ago
- France 24
We could withdraw from the von der Leyen coalition: Renew chief Valérie Hayer
"I want a strong commitment on common policies, and I want a better cooperation, both between the Commission and the European Parliament, and also within the European Parliament, between the EPP and the pro-European groups, which is not the case yet," Hayer asserts. "If we don't have any strong commitment, any willingness from the EPP group that they want to work together with the pro-European agenda, and if we don't have any commitment from Ursula von der Leyen, then of course we will have to take decisions. And that could indeed be not to take part any more in this coalition." We put it to Hayer that the EPP has not sided with the far right in the great majority of votes over the past year. "But when you look at the most important files in the European Parliament, they decided consciously to make a deal with the far right. I can give you lots of examples," Hayer responds. "Nothing can be achieved with the far right, because the far right just wants to undermine Europe," she adds. We ask Hayer how France is going to deal with its huge public debt, while at the same time increase its defence spending by €3.5 billion in 2026. Is it not a contradiction to spend more money while also making austerity cuts? "We have to push for more investment at the national but also at the European level," Hayer responds. "We are under threat with disinformation, cyberattacks and so on. And President Macron had also a very pro-European stance when he decided and announced this increase in defence spending. So I think we don't have any other choice." On the subject of public spending, the EU Commission has now made its proposal for the next big seven-year EU budget, and it represents an increase on the current 2021-2027 budget, which Hayer helped to negotiate. "We want to have a strong competitiveness fund to support our industries," Hayer says. "We also want to have a 'European preference' with local content [in strategic investments]. And a key demand from our group is that we want a strong commitment vis-a-vis the rule of law, especially with the smart conditionality, which means no euros going to autocrats and governments who don't respect our common rules. But on the ground, mayors and NGOs should still benefit from [EU] money." Hayer also talks about US President Donald Trump and his stated intent to impose 30 percent tariffs on EU imports on August 1. "First of all, nobody has any interest in this trade war. Nobody. Neither the EU, nor the US," she answers. "Now, the unity of Europe is absolutely key. Of course we should support the Commission strategy and leave the political space for negotiation. But if on the 1st of August we don't have enough in the negotiations, let's not be shy. We are a power. We have a huge market that is interesting for US companies, and we should have these countermeasures to convey the message to Donald Trump that we will not be fooled."
Euronews
an hour ago
- Euronews
UK sanctions Russian spies over deadly Ukraine theatre strike
The UK sanctioned 18 officers and three units from Russia's military intelligence agency (GRU) on Friday over their role in a 2022 air strike on a theatre in Ukraine that killed hundreds of civilians. The Foreign, Commonwealth and Development Office (FCDO) said the targeted GRU personnel were responsible for preparations leading to the bombing of the Mariupol Drama Theatre, where civilians had taken refuge and painted the word "children" outside in large letters hoping to deter attacks. The strike on 16 March 2022 is believed to have killed around 600 people, including many children, according to an investigation by the Associated Press. Western officials have blamed Russia for over 70 attacks since 2022, aimed at destabilising Europe and weakening support for Ukraine. "GRU spies are running a campaign to destabilise Europe, undermine Ukraine's sovereignty and threaten the safety of British citizens," said Foreign Secretary David Lammy. The UK alleges that GRU Unit 26165 conducted online reconnaissance of civilian bomb shelters in Mariupol and Kharkiv in the days leading up to the attack. In addition to their role in Ukraine, the officers are accused of past operations including targeting the family of former Russian spy Sergei Skripal, who was poisoned alongside his daughter with the nerve agent Novichok in Salisbury in 2018. The same GRU unit is believed to have used malware in 2013 to spy on the email account of Skripal's daughter, Yulia. The FCDO described Unit 26165 as a "highly sophisticated, well-established cyber actor" involved in intelligence gathering and hack and leak operations against Ukraine, NATO and European countries. It also linked the unit to cyberattacks on the US Democratic Party in 2016, French President Emmanuel Macron's 2017 campaign and attempted interference in the 2024 Paris Olympics. Another GRU division, Unit 74455, was said to have launched cyberattacks against the UK Foreign Office and the Defence Science and Technology Laboratory during the Skripal investigation. The UK's National Cyber Security Centre added that Russian hackers had developed malware designed to gain unauthorised access to Microsoft cloud accounts. Friday's sanctions also targeted the African Initiative, an outlet allegedly used by Russian intelligence operatives to conduct disinformation campaigns in Africa, including efforts to weaken public health programmes and destabilise local governments. While the immediate impact of the sanctions — typically asset freezes and travel bans — may be limited, British officials said they aim to raise the cost of involvement in hostile acts and restrict international travel.
