US-EU Trade Deal Brings Limited Impact to Greek Exports

July 31, 2025
Written by E.Tsiliopoulos

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US-EU Trade Deal Brings Limited Impact to Greek Exports

The recently announced trade agreement between the United States and the European Union, which imposes a 15% tariff on certain European goods, is expected to have only limited effects on Greece’s export market, according to experts and officials.

Speaking to Greece’s public broadcaster ERT, economist Giannis Tsoukalas acknowledged that while the deal could have been more favorable, it removes the uncertainty and fears surrounding a full-blown trade war between the two economic powers. Tsoukalas noted that Greece’s exports to the US make up a relatively small share of the total trade volume, so the direct consequences should remain modest.

Echoing this view, Vassilis Korkidis, president of the Piraeus Chamber of Commerce and Industry, described the tariff rate as “manageable” and “the lesser of two evils” compared to the possibility of escalating tariffs or trade restrictions.

Meanwhile, Greek Finance Minister Kyriakos Pierrakakis called the deal “positive,” emphasizing that it strengthens transatlantic cooperation and provides more economic security for Europe. He acknowledged the government’s preference for lower tariffs, ideally zero, and confirmed that authorities are carefully monitoring ongoing negotiations, especially concerning products of particular importance to Greece.

Greek exports to the United States total approximately €2.6 billion annually, representing around 5% of Greece’s overall export volume. Key export sectors affected by the tariffs include:

Mineral fuels (€320 million)
Aluminum (€80 million)
Olives (€100 million)
Olive oil (€30 million)
Feta cheese (€27 million)
Wines (€10 million)
Notably, aluminum tariffs remain at 50% following US demands, a significant hurdle for this sector.

Overall, Greece appears cautiously optimistic that the deal will prevent a full-scale trade war and keep economic disruptions limited, while continuing to advocate for tariff reductions that better support its export-driven industries.

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