The impact of US President Donald Trump’s policy on Europe is different for each EU member state, Professor of Economics Konstantinos Hazakis, said in an interview with Naftemporiki TV.
Asked about the cost of the tariff policy, the professor of Economics noted: “The cost varies depending on the countries. That is, Germany, Italy, Ireland will be very exposed, because of their relation with the US economy, as their trade surplus is estimated at around 200 billion euros. The targets in relation to Greece are limited to 0.25%. In other words, Greece will not be directly affected by US tariffs. If it is affected, it will be in an indirect way.”
“The total cost will depend on the exact level and extent of the tariffs. We expect between 160-200 billion euros and this will also depend on the exchange rate. Because if the euro weakens, part of the negative effect will be absorbed. So, my answer is that the costs will be asymmetrical depending on the European countries and will also depend on factors such as the exchange rate,” Hazakis explained.
