Pierakakis on Trump’s Tariffs: Negative Impacts Are Inevitable

On April 3, the Minister of National Economy and Economic Affairs intervened during a discussion regarding the imposition of tariffs by the U.S. in the context of the stock market protection bill at the Permanent Committee for Economic Affairs in Parliament. Minister Pierakakis stated that “yesterday’s announcements from the U.S. government clearly mark a historical shift towards protectionism and an abrupt change in how the global economic system has functioned for decades. This represents a fundamental deviation from how the European Union perceives economic and social progress since its establishment. As a country, we support free trade. We believe that a global trade war benefits no one, and we hope this issue will last as briefly as possible. The impacts cannot yet be fully reflected, but it is certain they will be negative. What we witnessed yesterday is not a static image but a dynamic one. It’s given that economies worldwide will react in various ways, leading to several rounds of escalation until the new economic balance is established. It’s also certain that the Greek government will participate and help shape the unified European response. With planning and responsibility, the Greek economy will meet international challenges,” concluded Pierakakis.