Greece protests as America imposes tariffs on staple exports
The USA does not produce feta, olives, or olive oil, so imposing tariffs on them by Washington makes no sense, stated the Prime Minister of Greece, Kyriakos Mitsotakis. He simultaneously declared that the Greek economy is ready for changes in trade with the USA.
What do you need to know?
- Prime Minister of Greece, Kyriakos Mitsotakis, criticised the USA's decision to impose tariffs on Greek products such as olives, olive oil, and feta, arguing that they are not produced in the United States.
- The Greek economy is prepared for changes in trade with the USA, and the Prime Minister emphasises the need for a unified response from the European Union.
- Export of Greek food to the USA accounts for approximately 31% of total exports, with table olives valued at £180 million.
Greek Prime Minister criticises Trump
Prime Minister of Greece Kyriakos Mitsotakis, quoted by the ANA-MPA agency, expressed his dissatisfaction with the USA's decision to impose tariffs on Greek products. He emphasised that olives, olive oil, and feta are not produced in the United States, which makes these tariffs pointless. "These products are not produced in the US, and therefore, it makes no sense to impose tariffs on them," stated the head of the Greek government.
Food constitutes about 31% of Greece's total exports to the USA. It is estimated that the export of table olives alone is worth £180 million.
The effects of tariffs will be felt across Europe
The Governor of the Central Bank of Greece, Yannis Stournaras, in an interview with the "Financial Times," warned that tariffs could slow down economic growth in the eurozone by 0.5 to 1 percentage point. Prime Minister Mitsotakis stressed that the European Union's response to American tariffs needs to be well-thought-out to avoid a "spasmodic reaction."
On 2nd April, Trump announced 10% base tariffs on all imports to the USA, with dozens of countries subjected to higher tariffs. In the case of the European Union, the USA imposed 25% import tariffs on steel, aluminium, and cars, as well as tariffs of 20% on nearly all other goods, noted Reuters.
In 2024, the import of goods from the USA to the EU reached a value of £284 billion, while exports from the EU to the USA amounted to £451 billion. The United States remains the largest export market for the EU.
