An official of a Portuguese metal industry association has said cuts in Chinese import tariffs may mean more business for Portuguese exporters of metals, Expresso reports.
The Portuguese publication says the Chinese Ministry of Finance will cut import tariffs on textiles and metals to 8.4 percent from 11.5 percent on November 1.
The report quotes the metal industry association official, Rafael Campos Pereira, as saying “This could be very positive for us.”
Mr Campos Pereira’s association says Portugal sold €370 million (US$425 million) worth of metals to China last year, 67.8 percent more than the year before, but that in the first seven months of this year the value of such exports was 29.6 percent lower than in the corresponding period last year.
The tariff cuts may also mean more business for Portuguese exporters of textiles to China, Expresso says.
