The Greek government is waiting for the official signing of the EU-US agreement on tariffs that will affect signature Greek products while also looking at alternative importer countries such as India and the Middle East.
The hope is that through bilateral talks at European level, Greece will be able to exempt Protected Designation of Origin (PDO) products such as olive oil, feta chesse, yogurt, wine, and olives.
Greek officials said each EU country will fight for its own products in Brussels, without relying exclusively on that outcome.
National Economy and Finance Minister Kyriakos Pierrakakis provided an indication of the government stance, when he said earlier in the week that the EU-US agreement “prevents a trade war with chain reactions” and “it safeguards transatlantic unity,” adding however that
“Greece would prefer a lower rate of tariffs, ideally a zero one” because “15% may be lower than the initial plan, but it is still burdensome,” Finance minister Kyriakos Pierrakakis has said. He also conveyed a message to Europe on what he called “internal obstacles operating like intra-European tariffs” that undermine the practice of a unified European market. Such obstacles “reach 45% in manufacture and 110% in services. These are obstacles that must be dismantled,” the minister added.
Parliament’s Budget Office on Greek Exports to U.S.
The Greek Parliament’s Bugdet Office provided a special study on the repercussions of American tariffs on Greece. It focused on 20 sectors exporting to the United States between 2000-2024, which moreover in 2024 were responsible for nearly 76% of all exports to the US that year.
The average annual value of Greek exports to the US for 200-2024 was as followes per sector, with value in millions of euros:
Fishery products 18.4 mln euros, Vegetables 1, Fruits 14, Beverages 1, Oily nuts 2, Prepared vegetables & fruit (except olives) 60, Wines 10, Cement & plumbing products 65, Fossil fuels 320, Pharmaceuticals 2, Materials 23, Steel 7, Steel-crafted products 74, Aluminum 80, Machinery 28.3, Electric appliances 71.8, Aviation 57.5, Olives 100, Olive oil 30, and Feta cheese 27 million euros.
Exporting sectors that are more susceptible to unfavorable trade upsets should be specifically supported, the Budget Office proposed, adding that exports should be redirected to new global markets despite the cost, and temporary relief measures should be reviewed for affected exporters. For the latter, it proposed a reduction in non-payroll costs or energy, in order to directly relieve them, retain staff and business continuity, and introducing initiatives for boosting workers’ skills.
