Greek exporters are bracing for potential disruption as the U.S. considers a new round of tariffs that could impact 23 Greek products with strong exposure to the American market. According to a report from the National Bank of Greece, these goods—ranging from olive oil and wine to construction materials and electrical equipment—have become increasingly reliant on U.S. demand over the past six years.
Though Greece sends only about 5% of its exports directly to the U.S., the impact of these tariffs could ripple beyond headline numbers. Many Greek products, particularly olive oil, reach American consumers indirectly through Italian and Spanish brands. Olive oil alone, including indirect flows, accounted for more than €1 billion in exports over the past six years, with the U.S. absorbing up to 30% of that volume.
The food sector is the most exposed, having contributed two-thirds of Greece’s recent export growth. In the past quarter alone, food exports rose by 18%, led by a rebound in olive oil. However, any loss of competitiveness in the U.S. could force producers to find new markets quickly—under tighter margins and growing international competition.
The threat also looms larger in the context of global trade uncertainty. While Greek exports (excluding oil) have outpaced many EU peers in recent months, much of that success has come from diversification beyond traditional European partners. A pullback in U.S. demand—direct or indirect—could strain this strategy.
Analysts warn that the real risk may not be direct losses, but broader knock-on effects through key partners like Germany and Italy, both of which are heavily exposed to the U.S. market and play a critical role in Greece’s export network.
