US-EU Tariffs: Impact on Greek Exports

The impact on Greek businesses from the EU-US tariff agreement is expected to be moderate. The agreement stipulates 15% tariffs on European and American products, except for steel and aluminum, which remain at 50%.

According to a study by the Hellenic Parliament's Budget Office, the direct impact on GDP is not quantified. Sectors such as steel have seen export declines of up to 85% in the past, while others, such as aluminum, have seen increases of up to +37%.

The National Bank of Greece estimates that a horizontal increase of 10% in tariffs would reduce Greek exports by 1.7% and GDP by 0.4% by 2026.

The president of the Athens Chamber of Commerce and Industry (EBEA), Yannis Bratakos, notes that the agreement creates predictability but also incorporates challenges for European production. Special attention is needed to protect products such as olive oil, feta cheese, and wines.

Vasilis Korkidis, president of the Piraeus Chamber of Commerce and Industry (EBEP), considers the agreement manageable and better than the unilateral imposition of measures.

Yannis Hatzitheodosiou, president of the Athens Professional Chamber (EEA), expects the impact on the European economy to negatively affect the Greek economy as well.