The Piraeus Trade Association is monitoring with concern the developments on the front of trade relations between the United States and the European Union, following the announcement by the US government to impose 30% tariffs on European imports, effective from August 1, 2025.
As it pointed out, the current trade escalation, “which brings back the logic of protectionism, constitutes a serious threat to the stability of the international trade framework and has already begun to cause turbulence in the markets.
The potential implementation of the measure affects key sectors of European production and trade – metal and industrial products, pharmaceuticals, agricultural goods and digital services – causing increased costs, reduced competitiveness and knock-on effects on the continent’s small and medium-sized enterprises.”
Piraeus’ traders underlined that for the Greek economy, the prospect of a significant reduction in exports to the US – at rates that may exceed 20% – will result in losses in critical sectors, such as food, beverages and pharmaceuticals. This adverse environment may translate into pressure on trade results, tax revenues, but also on disposable income, they estimated.
The Piraeus Trade Association calls on:
-The European Commission to manage the negotiation with a clear strategic framework, ensuring the interests of small and medium-sized enterprises in the European Union.
-The Greek government to immediately proceed with measures to support and strengthen the affected sectors, targeting export SMEs.
-The market institutions to cooperate in order to protect Greek entrepreneurship in a global environment full of uncertainties.
As it emphasized, “in times of international turmoil, supporting the real economy is not an option – it is a duty. And this duty must be served with a plan, responsibility and voice.”
