Pierakakis on Trump’s Tariffs: A Historic Shift Towards Protectionism

In a recent statement, Greek Minister of National Economy and Economic Development, Kyriakos Pierakakis, highlighted the historic shift towards protectionism following the U.S. government’s announcements regarding new tariffs imposed by President Trump. Pierakakis emphasized that this move represents a drastic change in how the global economic system has functioned for decades. He stated that it marks a fundamental divergence from the European Union’s perception of economic and social progress since its establishment. Greece, as a nation, supports free trade, according to Pierakakis, who added that a global economic war benefits no one. The minister expressed hope that this phase will last as briefly as possible, noting that while the full impact remains unclear, negative consequences are expected. Furthermore, Pierakakis pointed out that the situation is dynamic, not static, and that economies worldwide will respond in various ways, likely leading to multiple rounds of escalation before a new economic balance is achieved. Greece, he assured, will participate in shaping the unified European response and meet international challenges responsibly with a clear plan.