Previously, Defense Express has emphasized that the Swedish multirole fighter Saab JAS 39 Gripen is powered by a U.S.-made General Electric F414G engine, which would not be an issue if not for the Trump administration's new policy towards European NATO allies. Washington even threatened to veto re-export of its components if Sweden goes through with selling Gripens to Colombia.
Although the contract with Colombia, the first in 11 years, is yet to be signed, the political decision has been made, so now the Swedes feel more confident to try and convince Portugal to buy their aircraft instead of the F-35. As reported by Opex360, Saab CEO Micael Johansson said in an interview with Dagens Industri that negotiations are underway, which follow a series of statements from Portuguese officials doubting the future of plans to purchase F-35s.
Read more: Washington Hits Europe With Tariffs, Threatens Forceful Annexation, and Then Demands to Buy American weapons

The Portuguese Ministry of Defense has not yet commented on Johansson's remarks to the press. Worth noting, Portugal is currently in the middle of an active political process as the nation is preparing for early parliamentary elections, due to be held on May 18, 2025, followed by a turbulent period of forming a new government.
This political uncertainty is a major factor why Lisbon is in no hurry to either categorically give up on its intention to order F-35s or reaffirm its previous commitments. This American remains on the "short list" of possible purchase options.

It is worth noting that in early 2024, the Portuguese Armed Forces' fighter aircraft inventory numbered 24 F-16AM and four F-16BM warplanes, with the annual defense budget of approximately €4 billion, according to The Military Balance study by IISS.
On a note from Defense Express, Sweden's offer is quite optimistic, considering their aircraft is also highly reliant on the policies of the United States, and it's not about the fearsome "kill switch" that allegedly can make all F-35s useless if Washington desires so. It's the fact that JAS 39 Gripen operates on the American-made engine which requires export permits, parts for maintenance, service by qualified personnel, etc.
How successful such an aircraft would fare as an alternative, remains an open question. Though we should note that Saab had plans for a locally produced replacement to the F414G engine, a variant of the EJ200 usually found in Eurofighter Typhoon, but the tracks of this project are lost around the mid-2010s.
Read more: Portugal No Longer Considering F-35 Purchase Due to White House Statements: Will This Become Trend or One-off