Speaking in the Greek Parliament, Minister of National Economy and Finance Kyriakos Pierrakakis emphasized that Greece is closely monitoring the details of the agreement and is preparing to seek improvements for sectors and products of high national interest. While the agreed 15% tariff is lower than the originally planned rate set to take effect on August 1, Pierrakakis noted it still falls short of Greece’s ideal outcome: zero tariffs on all transatlantic trade flows.
Two Key Fronts for Greece
Athens is now focused on two main areas:
- Targeted exemptions or tariff reductions for specific Greek exports — from food and beverage industries to specialized products of the primary sector.
- A broader institutional push within the EU to address what Pierrakakis bluntly referred to as “intra-European tariffs.”
The Barrier of Administrative Distortions
Despite decades of the Single Market, Pierrakakis highlighted that regulatory and administrative distortions within the EU still impose costs comparable to tariffs imposed by third countries. According to studies by the IMF and analysis by Mario Draghi, the cost burden in manufacturing due to such internal divergences reaches 45%, and in services, an astonishing 110%.
In simpler terms: the EU remains riddled with invisible borders, regulatory traps, and national preferences that stifle competition and limit outward-looking economic activity.
Athens to Push for Deeper Integration
Pierrakakis stated that Greece will intensify its efforts to dismantle these internal EU barriers, viewing them as even more critical than transatlantic tariffs. During upcoming Eurogroup and ECOFIN meetings, Greece intends to:
- Advocate for genuine completion of the Single Market,
- Demand removal of internal regulatory obstacles, and
- Seek enhanced access to emerging markets such as India and Gulf nations.
Next Phase: Assertive Trade Diplomacy
With the U.S.–EU deal serving more as a truce than a final solution, Athens is preparing for a new round of trade negotiations. At the heart of its strategy are:
- Modernization of the EU Single Market,
- Complete elimination of artificial intra-EU barriers, and
- Exemption of critical Greek exports from high transatlantic tariffs.
Greece’s trade policy is entering a more assertive phase, aligning national interests with a push for broader EU reform and global market diversification.
Source: pagenews.gr