US Secretary of State Marco Rubio said in Portugal that European countries should not depend on a single country such as China for critical supplies. Portugal’s foreign minister called the US a “great ally” but stressed that Lisbon’s ties with China go back more than 500 years and that Chinese investment complies with EU rules.
Rubio held a joint press conference in Lisbon on Oct. 8 with Portuguese Foreign Minister Paulo Rangel, the last stop of a European trip that also took him to Iceland and Greece. According to Taiwan’s Liberty Times, citing Bloomberg, he was asked about concern over China’s growing influence in Europe and said it is bad for the US, Portugal and any country, adding that diversity is needed. Washington is trying to limit Beijing’s influence in strategic sectors.
광고 문의 · 300×250Chinese capital in Portuguese energy and finance
The background is the ownership of key Portuguese companies. The report says China Three Gorges holds 22.2 percent of power company EDP, State Grid owns 25 percent of grid operator REN, and Fosun holds 20.45 percent of Banco Comercial Portugues, the largest listed bank. Bank of Portugal data put Chinese direct investment at about 12.1 billion euros at the end of 2024, making China one of Portugal’s largest foreign investors.
Rangel’s reply was careful. He called the US a “great ally” but said Portugal-China relations date back more than 500 years and argued that Chinese investment in Portugal complies with current and future EU rules. Successive Portuguese governments have welcomed Chinese capital, while other European countries have grown more cautious about China’s role in strategic industries. Beijing generally describes its companies’ overseas investment as normal, mutually beneficial economic cooperation.
The EU is also preparing responses. The report says Brussels is drafting rules to reduce dependence on China, including supply-chain diversification, tighter screening of Chinese investment and advantages for European firms in public procurement.
Lajes base and the Iran war
Security came up too. The US has long kept a presence at Lajes Field in the Azores, and Portugal recently approved, with conditions, US use of the base to support the Iran war. The two ministers also discussed the Middle East; Portugal backs diplomacy to stop Iran acquiring nuclear weapons but says it is not a party to the war. President Donald Trump has criticized European countries for not helping enough in the US war against Iran.
The press conference illustrates how Washington is bundling security and supply-chain concerns inside the Atlantic alliance, while individual members try to balance economic interests against their ties to allies.
