Government presents a package of 10 billion euros in response to US tariffs

The government approved a set of measures on Thursday to help companies respond to the new tariffs imposed by the US.

The so -called program reinforces “provides for the mobilization of up to 10 billion euros, through financial instruments driven to companies with export and internationalized activity, with special attention to the diversification of markets”, said the government.

According to the Minister of Economy, Pedro Reis, the program measures go through the release of credit lines in a total amount of 8.6 billion euros, through the Bank of Development.

There will be a reinforcement of the existing financing lines at 5,185 million euros, intended for the business management and investment fund and a new line of 3,500 million euros, including 400 million in grants, oriented to exporting companies.

An additional 1 billion euro line will be created for a subsidiary management fund and export credit insurance plafonds will be reinforced at 1,200 million euros, “to support market diversification through the BPF export credit agency.

The Strengthening Program will also include a new incentive plan, in the scope of Portugal 2030, in the amount of 200 million euros, to support internationalization and export. « From this amount, 150 million are specifically intended for small and medium enterprises. »

Pedro Reis also remembered the 2,640 million euros programs that were already running and that will be “anticipated” so that companies can benefit from them in the coming months.

The implementation of the program will be accompanied by an interministerial working group, coordinated by the Portuguese Bank of Development.

The minister also assured that these measures will be implemented, regardless of negotiations between the US and the European Union.

“Portugal should be a port of shelter,” said Pedro Reis.