A wave of uncertainty has hit Greek export businesses following the announcement of new US tariffs. With President Donald Trump’s decision to impose an additional 30% duty on European exports, Greek companies have halted shipments to the United States, fearing unpredictable costs if goods arrive after August 1.
Exporters remain on edge as final negotiations between the United States and the European Commission resume. The new tariffs, announced last Saturday, have left many companies unsure of how to proceed. Speaking to local media, Symeon Diamantidis, President of the Exporters’ Association of Northern Greece, explained that the decision was a reaction to European demands for a mutual withdrawal of tariffs, often referred to as the “0+0” stance.
Shock in Brussels Over Sudden Tariff Hike
The European Union had previously urged the US to eliminate the 10% tariff already in place on European products, offering in return not to impose duties on American goods. However, the sudden escalation to 30% from the Trump administration shocked Brussels and reopened talks between the two sides.
Diamantidis expressed cautious optimism that a compromise might be reached. According to him, the most likely outcome is that the European Commission will accept the 10% tariff, in hopes of avoiding the harsher 30% rate.
He highlighted that EU exports to the US are valued at approximately €580 billion annually. A flat 10% tariff would generate about €60 billion for the US, while Europe’s loss from not reciprocating with equal tariffs is estimated at €6 billion—a figure he considers negligible compared to the risk of losing access to the American market.
Hope for Exemption of Greek Products
Diamantidis believes that if the EU accepts the 10% tariff, the additional 30% could be revoked. More importantly for Greece, there is a possibility that Greek products could be entirely exempt from the existing 10% tariff in a second phase of negotiations.
He noted that he has held discussions with influential individuals across the Atlantic, including John Catsimatidis—a prominent figure in the Greek-American community with personal ties to President Trump—as well as Archbishop Elpidophoros of America and Kimberly Guilfoyle, who is expected to be the next US ambassador to Greece. Diamantidis said these talks yielded positive signals, based on assurances from the Trump administration.
However, he cautioned that these developments hinge on a successful outcome of the ongoing EU-US negotiations. Without a deal, many Greek exporters could suffer severe losses.
High Stakes for Greek Agricultural Exports
The stakes are particularly high for Greek agricultural exports. For example, peaches are already subject to a 17% duty. If the new 30% tariff is added, the total duty would reach 47%, making the US market virtually inaccessible for this product category.
