"The tariff exemption is crucial to reversing recent trends in Portuguese cork exports, ensuring greater competitiveness in access to one of the most important markets for the sector," the association stated in a statement.

It emphasizes that this decision is "especially relevant" in a context of "high internationalization of the industry, present in all wine-producing countries," and in which "there is no room for a market diversification strategy in the short and medium term."

For Apcor, this represents "international recognition of the unique geographic specificity of cork," whose raw material is produced exclusively in the Mediterranean basin, with Portugal standing out as the world's largest producer.

"The uniqueness of this production gives cork products a globally exclusive character, making it extremely difficult to shift current European production centers to accommodate potential reindustrialization dynamics in the American economy," it emphasizes.

According to the association, the US is currently the world's fourth-largest wine producer, with a share of approximately 10% of global production. The lack of local or international alternatives capable of replacing cork stoppers "reinforces the strategic importance of these products in the American market, particularly for its wine industry."

Thanking the Portuguese government, the Permanent Representation of Portugal to the European Union (REPER), the Portuguese embassy in the US, and the local delegation of the Portuguese Agency for Investment and Foreign Trade (AICEP) for their "decisive commitment and contribution to achieving this result," Apcor considers this to be "a moment of enormous importance for the cork industry and the national economy."

"The defense of the interests of a sector in which Portugal is a world leader was ensured thanks to a joint and coordinated effort by several entities, strengthening the strategic position of our products in the American market," it emphasizes.

The European Commission today stated that it "achieved the goal" with the trade agreement with the United States of America (USA), which provides "stability and predictability" and is the "most favorable scenario" Washington has offered to a partner country.

"We have reached the target," said Commissioner for Trade and Economic Security Maroš Šefčovič, referring to the trade agreement with the US, which "carries considerable weight."

The commissioner considered that the other option was "a trade war with stratospheric tariffs that would harm everyone."

According to Maroš Šefčovič, the 15% tariffs on the EU are "the most favorable scenario the US has applied to a partner," bringing "stability and predictability" to companies and citizens of the European political-economic bloc.

According to the joint statement released today, Brussels and Washington commit to "a framework for transatlantic trade and investment that is fair, balanced, and mutually beneficial."