Greece’s plan to deal with the “Trade War” after Trump’s tariffs

Deputy Prime Minister Kostis Hatzidakis presented seven interventions to shield the Greek economy from international instability following the tariffs imposed by U.S. President Donald Trump.

Speaking at an event of the Hellenic-Italian Chamber of Commerce in Athens on Thursday evening the deputy PM -and until last month finance minister – first of all made clear that “only 5% of Greece’s exports are directed to the US,” and “that it would be a mistake to consider that Greece is not affected.”

He spoke of “certain secondary consequences in the European economy, and therefore in the Greek economy as well,” and added “a major global economic and trade war has begun.”

He underlined that both the European Union and Greece must be shielded with careful moves that strengthen their competitiveness, autonomy and resilience.

He then revealed the seven interventions the Greek conservative government plans to implement in oder to deal with the trade war crisis.

1. Attracting additional investments.
2. Supporting the real economy, through the regulations of the bill, which is being discussed in Parliament, to further strengthen the Capital Market, utilizing the NSRF and the Recovery Fund in combination with the Development Bank to enhance, in particular, the liquidity of small and medium-sized enterprises.
3. Increasing extroversion. The main goal is to penetrate two very large markets, which are India and China, with simplification and further digitalization of customs procedures and incentives for exports.
4. Upgrading infrastructure. In addition to the energy infrastructure, which allowed Greece to become a net energy exporter after many years in 2024, critical projects are progressing, such as: the expansion of the Thessaloniki Metro, the construction of the new international airport in Kasteli, Heraklion, the development of regional ports, the promotion of the fibre optic network.
5. Expanding the productive base of the Greek economy.
6. Human resources. The changes are also reflected in the reduction in unemployment, which has fallen to 8.6%.
7. Fiscal policy and taxation.

An vague, economic plan without calculation of the cost? Except targeting -vehemently? – markets in India and China, we have been hearing all the other “interventions” months in, month out as the Mitsotakis government goals since 2019.

PS Run! As fast as you can!