Greece to Seek Exemptions From New US Tariffs on Agricultural Products
Greece to Seek Exemptions From New US Tariffs on Agricultural Products
Greece is working on the creation of a strategy for exemptions from the new US trade tariffs that were introduced earlier this week, according to the Greek Minister of Rural Development and Food, Kostas Tsiaras.
“The imposition of tariffs by the United States government on agricultural products from European countries is a worrying development,” the Greek official told AMNA on Saturday.
Greece exports significant quantities of basic agricultural products to the US, such as feta cheese, olives, olive oil and compotes, and the new tariffs are expected to hit these sectors.
As a member-state of the EU, the country will follow the group’s decisions in response to the US tariffs, but it will also seek new routes for the promotion of Greek products, the minister disclosed.
Greece to seek exemptions from new US trade tariffs
While Greek economists earlier this week argued that President Trump’s tariffs on the EU will have a limited impact on the Greek economy, as the country is not heavily dependent on exports to the US, Minister Tsiaras pointed out that the US market is extremely important for all Greek products.
“We must have a strategy that will allow us to exploit the uniqueness of Greek products, seeking exemptions from the tariff regime, especially since many of them are not competitive with products produced in the US,” he revealed. “We will make every effort in this direction.”
In addition, Greek exports should shift their focus on other markets sooner than previously planned, as the need to accelerate efforts to find new markets for Greek products becomes more evident.
“We must redirect our exports and invest in new strategic markets, which offer growth prospects for Greek products,” Tsiaras stressed. “Furthermore, Europe, as a society of 450 million people, has the power and the means to redesign its policies and seek new directions for its products,” he added.
“It is clear that supporting Greek agricultural products is crucial for the development of our country and in these difficult times, the government is committed to working hard to protect and strengthen our export base,” Tsiaras concluded.
Greece suggests three-pillar response to US tariffs
In an interview with Greek commercial broadcaster Action24, Tsiaras suggested a three-pillar response to the new US tariffs.
Besides the country’s own efforts to become exempt from the tariff increase on unique products that don’t affect the US agricultural produce, the EU should also redefine its policy in the primary sector, since the group is the biggest exporter of agricultural goods to the US, the minister proposed.
Last, the EU should support the agricultural produce of its member states.
“It is unthinkable that European products are exported while EU consumers are forced to buy the same products from third countries, at cheaper prices,” Tsiaras protested. “We should examine financial support for EU products to make them more accessible to European consumers.”
Substantial increase of Greek agricultural exports to the US
Data from the Greek Ministry of Rural Development and Food showed that Greece maintained a trade surplus with the US in the period 2022-2024.
One in three Greek products exported to the US is an agricultural or food product, making the US the third biggest market for Greece in agricultural exports, after Italy and Germany.
As stated by official figures, a rapid growth was observed in recent years; the Greece-US trade surplus in agricultural products and food rose by 7.4 percent to 573.6 million euros in 2023 from 534.1 million euros in 2022, while in 2024 it increased by an impressive seventeen percent to reach 671.1 million euros.
Greece’s overall response to the new US tariffs will be discussed on Monday during a meeting of the government’s Financial Policy Council.
Any national level countermeasures to Trump’s tariffs decided by EU member-states will need to be approved by the European Commission.