What the press says about investment, trade and business between Portugal and the United States — selected and summarized by AmCham.
In Lisbon, Secretary of State Marco Rubio pointed to subsea cables, energy and data centers as reasons for American tech companies to enter Europe through Portugal. US investors put more than $20 billion into the country over the past year, and the two governments are preparing a CEO Forum.
On AmCham's podcast with ECO, Pestana Group CEO José Theotónio says the group is looking for new properties in the US, where it already has four hotels, in Miami, New York and Orlando. American tourists spent €3.14 billion in Portugal in 2025.
The US economy created just 29,000 jobs in September, against 92,000 expected, and unemployment rose to 4.2%. Markets are now betting on a Fed pause at the October 27–28 meeting, after September's hike.
On AmCham's podcast with ECO, Mário Jorge Machado, of Adalberto, says textile exports to the US are growing 3% this year, after the 2025 decline. The company is considering building a factory there for a new product, within three to five years.
Tekever, an autonomous systems technology company founded in Portugal in 2001, closed the first stage of a $580 million round led by America's UC Investments and Baillie Gifford, valuing it at $6.4 billion. The money will go to international expansion, production and acquisitions.
Usaware Care, which offers telemedicine via WhatsApp, closed a €2.6 million round led by Armilar and wants to enter the US by the end of the year, through partnerships with children's hospitals and insurers.
The Prime Minister closes a session of the New York Stock Exchange during his trip to the UN General Assembly, to strengthen economic ties. In 2025, the US was Portugal's fourth-largest customer: €4.6 billion in exports and a €6 billion trade surplus.
First rise since 2023: the range moves to 3.75%–4.00%, with inflation under pressure from the war in Iran. The Fed forecasts 2.3% growth in 2026 and does not rule out another rise before the end of the year.
The sector exported €84 million to the US in 2025 (1.8 million pairs) and is taking the Portuguese Shoes Showcase to New York on December 1 and 2, focused on meetings with American buyers and distributors. The bet is on quality and design, not price.
Ambassador John Arrigo expects more than $40 billion of American tech investment in Portugal by 2031, the largest concentration of American AI infrastructure in Europe. The US is the third-largest foreign investor in the country, with close to $20 billion invested.
Google's subsea cable, around 6,900 km long, links Myrtle Beach (South Carolina) to the Azores and Sines and is due to go live in 2027 — the first to connect the US directly to Portugal. The expected impact on the economy is €500 million.
The 9th Portugal Economic Forum, in New York, brings together companies and entities from both countries — from the US Department of Commerce to Lockheed Martin, OGMA and CEiiA — to build industrial partnerships in drones, cybersecurity and dual-use technologies.
MEPs gave the green light to the trade agreement with the US, which removes European tariffs on American industrial goods and sets a 15% ceiling for most European exports.
America's SRAM is investing €57.5 million in a new bicycle components factory in Coimbra, with €16.9 million in state support. It means 527 jobs, with production moving from Taiwan.
Advisers to American investors say extending the period before applying for citizenship from five to ten years is holding back investment decisions. The Government replies that golden visas were never meant to lead to citizenship.
Washington gave the EU until July 4 to implement the Turnberry agreement — zero tariffs on American industrial goods, in exchange for a 15% ceiling on European products — under threat of "very high" tariffs.
EDP Renováveis keeps the US as its main market, with €4.5 billion planned through 2028 — around 60% of total investment — despite exiting American offshore wind. The focus shifts to solar and batteries.
Nscale will invest €695 million in the Sines data center campus it is developing with Microsoft and Start Campus, including a second 200 MW building.
With a current average rate of 8.5%, Portugal would be the eighth EU country hardest hit by a single 15% US tariff — 6.5 percentage points more.
Exports to the US fell 13.4% in 2025 (€715 million less), mainly because of fuels. The US remains the main destination outside the EU, with 5.8% of exports.