Tension is mounting within the Greek export community following the new tariffs announced late last night by Donald Trump, which include a 20% duty on products originating from the EU. Although Greece was not explicitly mentioned in the U.S. president’s statements, the fact remains that the targeting of the European Union—accused of imposing unfair tariffs on American goods—opens the door to potential challenges for Greek products exported to the U.S.

According to 2024 data from ELSTAT (the Hellenic Statistical Authority), Greek exports to the U.S. accounted for 4.8% of the total value of Greek exports. Greece’s total exports in 2024 amounted to €49.9 billion, with €2.4 billion directed to the U.S., resulting in a trade surplus, as imports of American products reached €2.16 billion.

Trump’s sweeping tariffs could significantly impact Greek exports in a sector that has recently shown steady growth: food and beverages. Specifically, products such as Greek wines, olive oil, feta cheese, Kalamata olives, and baked goods are at risk due to the increased costs that American importers will face.

Among the strongest Greek presences on American shelves are olives, with Greece being the leading supplier of imported olives to the U.S. According to PEMETE (the Panhellenic Association of Table Olive Processors, Packers, and Exporters), the value of Greek olive exports in 2024 reached €241 million, marking a 39% increase in one year. Additionally, 45,000 tons of olive oil were shipped to the U.S. market in 2024, according to data from the Association of Greek Olive Oil Standardization Industries.

Feta cheese, which holds a leading position among Greece’s exported products and PDO (Protected Designation of Origin) cheeses, faces the risk of becoming less attractive due to price hikes. The value of feta exports to the U.S. in 2024 amounted to €53.6 million.

Greek wine exports, with the U.S. as their second-largest market, may also take a hit if the tariffs are passed on to consumers, reducing demand in an already competitive market. Greek wine sales in the U.S. totaled €19 million in 2024.

In other sectors, such as metals, industry experts reassure that the direct consequences will not be significant, as Greek mining and metallurgical products are not heavily exposed to the risks associated with these tariffs. However, indirect effects are another story, as both the European and global economic environment could be disrupted, impacting trade and supply chains. Specifically, a decline in exports to Greece’s European trade partners is expected. Currently, 65% of Greek exports go to EU member states, with Italy, Germany, France, and Cyprus being key trade partners. This may necessitate a shift in trade policy priorities, prompting Greece to explore new markets in Asia and Canada.

The other side of the trade balance involves imports. The EU, through Ursula von der Leyen, has already signaled that it will retaliate against these tariffs. What does this mean? That products imported from the U.S. are likely to become more expensive due to additional tariffs.

Greek exporters are particularly concerned about the potential blow to the European economy and how that will affect exports to the EU, rather than to the U.S. itself, since 50% of Greek exports are directed toward Europe.

It is also important to note that Greek exports to the U.S. largely cater to the Greek diaspora, which has developed a preference for Greek products, considering them higher quality and more familiar. As a result, demand is expected to persist despite price increases.