Latino and Hispanic are not races.
In the American context, Latino means you are Latin American. Hispanic means you speak Spanish natively.
So Portuguese people are not Latino or Hispanic in that sense.
Portuguese people are white Europeans.
However, if you want to get technical, the true definition of Hispanic is "from Hispania," which is the other name for the Iberian Peninsula, which consists of basically Portugal and Spain. So in this sense, Portuguese people are Hispanic (or more specifically, Lusitanic).
But if we're talking about the USA and what you identify as, that would be white. Portuguese people are white Europeans. They are not Hispanic or Latino in the American sense. And regardless, plenty of Hispanics and Latinos are white.
Hope I helped.