US tariffs stir concern of Douro Valley's economic stability
(MENAFN) In the heart of summer, Portugal's Douro Valley glows under the sun, its scenic vineyards stretched across the hillsides and the scent of ripening grapes filling the air — a familiar hallmark of this renowned wine region known for its iconic Port.
The small town of Favaios, situated nearly 600 meters above sea level, may be dry and lacking in nutrients, but its terrain and climate are perfectly suited to growing Moscatel Galego, one of the country’s most aromatic and refined grape varieties. Over the years, winemaking has steadily uplifted the local economy and sustained generations of growers.
That growth, however, now stands on uncertain ground. "Everything has been put on hold," said Joao Matos, a board member of the Favaios Cooperative Winery, in reference to recently introduced U.S. trade measures. Reports indicate that earlier this year, President Donald Trump implemented a 10 percent tariff on imports from numerous nations, including those in the European Union. Furthermore, he has announced intentions to escalate those duties on EU products to 30 percent.
This move has stirred significant concern among wine producers in the Douro Valley, casting doubt over the future of exports and threatening the economic stability of regions long dependent on international trade.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
