“The US government’s announcements mark a historic shift towards protectionism and a sharp change in the way the global economic system has operated for decades,” Minister of National Economy and Finance Kyriakos Pierrakakis said in Parliament, referring to the US President’s announcements on the imposition of tariffs.
The minister stated that these decisions “constitute a fundamental deviation from how the EU understands economic and social progress since its establishment.”
Pierrakakis stressed that “as a country, we are in favor of free trade. We believe that the global trade war does not benefit anyone. And we hope that this chapter will last for as little as possible.”
As he said, “the repercussions are not yet apparent in their entirety, although it is certain that they will be negative. What we saw yesterday is not a static but a dynamic picture and it is certain that the economies around the world will react in multiple ways and thus there will be not one but probably several rounds of escalation until the new economic balance is reflected,” he added.
He also noted that “it is certain that the Greek government is participating and will help shape the common European response. The Greek economy, with a plan, with responsibility, will address international challenges.”
