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On Monday, April 7, 2025, the Governmental Economic Policy Council will convene at Maximos Mansion to devise strategies to shield the national economy. The meeting, involving key ministries such as Finance, Development, Labor, Infrastructure, Shipping, Tourism, and others, aims to align Greece with EU counterparts and safeguard its economic resilience.<\/p>\n
While Greek exports to the U.S., valued at \u20ac2.4 billion in 2024 (1% of GDP), are relatively modest compared to the EU average, products like olives, olive oil, feta cheese, wine, and fruit preserves face pricing pressures that could erode their competitiveness. More concerning are the indirect impacts: with 50% of Greek exports directed to the EU, a slowdown in major economies like Germany and Italy could dampen demand for Greek goods. The tourism sector, a cornerstone of the economy generating \u20ac1.4 billion from U.S. visitors in 2023, may also feel the ripple effects of a projected global slowdown, with JP Morgan estimating a 60% chance of recession.<\/p>\n
The European Union is preparing a measured response, with the European Commission<\/a> proposing targeted retaliatory tariffs on up to $28 billion worth of U.S. goods, including meat, cereals, wine, clothing, and even niche items like chewing gum and dental floss. EU Commission President Ursula von der Leyen has reaffirmed the bloc\u2019s commitment to negotiations with the U.S., despite the looming 25% tariffs on steel, aluminum, and cars, and 20% duties on most other goods.<\/p>\n Prime Minister Kyriakos Mitsotakis emphasised the need to prioritise economic stability amid these \u201cturbulent waters.\u201d Speaking recently to his parliamentary group, he underscored that alongside implementing the government\u2019s agenda, \u201cwe must keep our homeland\u2019s ship safe, strengthening our defensive, diplomatic, and economic armour.\u201d As global trade talks intensify\u2014with over 50 countries reportedly engaging the White House\u2014Greece is bracing for a challenging economic landscape while striving to maintain its outward-looking economy.<\/p>\n<\/p><\/div>\n