Yanks and Portuguese dismissing Europe (4)

I believe the answer is:

tugs

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'yanks' is the definition.
(I've seen this before)

I can't explain the rest of the clue.

(Other definitions for tugs that I've seen before include "Tows" , "Yanks" , "Pulls hard" , "Pulls in a jerking manner" .)

I've seen this clue in the Irish Times and the Irish Times (Crosaire).

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