The tariffs announced by US President Donald Trump will have a negative impact of 0.3% to 0.4% on the Eurozone’s growth rate in the first year, Bank of Greece Governor Yannis Stournaras estimated. He added that the immediate impact on the Greek economy was not expected to be significant.
“Greece’s exports of goods and services to the US amount to about 4.5% of total exports, so the immediate impact is not expected to be significant. However, the Greek economy will be affected indirectly through the negative impact on eurozone GDP growth,” the central banker said, speaking to Bloomberg.
“The downward path of inflation is expected to continue,” Stournaras noted. “In my view, recent developments are not an obstacle to a further rate cut in April.
Recall that Donald Trump imposed 20% tariffs on EU products, with the new regime coming into effect on April 9. The US president reiterated his claim that the 27 member states are “stealing from us,” which he described as “pathetic.”
