The direct effects of US tariffs on Greece “do not appear to be major for the time being,” Omiros Tsapalos, spokesman for the Ministry of National Economy and Finance, emphasized on Naftemporiki ΤV, adding, however, that there may be indirect effects for our country if the trade war lasts or intensifies.
Tsapalos referred to the trade relations between Greece and the United States, noting that “Greece’s exports to America are estimated at approximately 5% of our total exports to third countries.” In economic terms, this translates to approximately 2.4 billion euros, he said. He clarified that of these exports, 1/3 concerns agri-food products such as feta cheese, olives, olive oil and some other foods, 23% are petroleum products and the remaining 42-43% are industrial products.
“Our exposure to the US is much lower than other EU countries”
“In general, our exposure to the US in relation to our trade is much lower than some other European Union countries,” he noted and added: “The direct effects do not seem to be great for the time being. However, there may be indirect effects as long as this situation lasts, as long as this situation intensifies. There may be negative effects on other countries in Europe where we are directly dependent, such as through tourism from Germany, France and so on, restrictive conditions may be created there and this may also have some chain reactions, not only in Greece but in other countries in Europe and the world.”
The “sensitive” sectors
As for the most “sensitive sectors”, Tsapalos stated that “what is important is to defend the national interests of the country. This means that we can find a way so that the effects of these tariffs are as limited as possible for all the products we export,” he said.
“Obviously, our priorities are olives, olive oil and feta cheese, because they are products that cannot be included in this US logic that says that I support domestic American products at the expense of imported ones, because quite simply these products are not produced in America. Therefore, Greece, always within the framework of the European common position and common line, will seek to safeguard these interests,” he underlined.
“Everything is on the table”
Asked whether an exception will be requested from the Greek side, but also whether our country will negotiate directly with the United States or through the European Union, the press spokesman of the Ministry of National Economy replied: “Everything is on the table. However, we always follow a loyal line – joint European negotiations. We do not deviate from this line, which is why the Minister of National Economy and Finance is going to Warsaw on Friday, to Ecofin, where together with the rest of his counterparts they will take important decisions and draw a common line beyond the negotiations that are already in force and are underway at the European level.”
