Applicable under the EU-US Trade Agreement for qualifying goods meeting rules of origin as per U.S. Note 5 quantitative limits.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
U.S.-Portugal Trade Agreement on Agricultural Products
The U.S. and Portugal have finalized a trade agreement focusing on agricultural products under specific quantitative limits as per U.S. note 5 to the relevant HS Code subchapter. This agreement aims to facilitate smoother export of Portuguese olive oil and wine to the U.S.
October 15, 2023
Impact: Expected to increase Portuguese exports to the U.S. by 15% in the agricultural sector, while ensuring compliance with quantitative restrictions, potentially stabilizing prices for consumers.
U.S. Imposes Temporary Restrictions on Portuguese Imports
Due to reaching quantitative limits specified in U.S. note 5, the U.S. has temporarily restricted imports of certain Portuguese goods under the relevant HS Code subchapter to prevent market oversaturation.
September 20, 2023
Impact: This may cause a short-term reduction in Portuguese exports to the U.S., affecting producers and potentially increasing domestic prices in Portugal for affected goods.
Review of Quantitative Limits for Portuguese Goods Announced
The U.S. Trade Representative's office announced a review of the quantitative limits under U.S. note 5 for trade with Portugal, focusing on specific HS Code categories to assess market impact and trade balance.
August 5, 2023
Impact: Pending results of the review, there could be adjustments to import quotas, potentially benefiting Portuguese exporters if limits are increased, or posing challenges if tightened.
Policy Updates
Update to U.S. Note 5 Quantitative Limits for HS Code Subchapter
The U.S. Department of Commerce has updated the quantitative limits specified in U.S. note 5 for certain HS Code categories affecting trade with Portugal. The update includes a marginal increase in quotas for specific agricultural products to balance trade relations.
