A tariff war between the European Union and the United States is threatening to buckle one of Greece’s most buoyant export sectors, which survived a decade of economic crises but possibly not President Donald Trump.
The Trump’s administration decision to impose an additional 25% tariff on a range of EU products in retaliation for EU aircraft subsidies, hits products from Scotch to Italian cheeses and French wines.
In Greece, its prized canned peach.
Greece is the world’s biggest exporter of tinned peaches with about one fifth of its 250,000 tonnes annual production absorbed by the U.S. market. Formerly subject to an import levy of 18%, the new tariffs – part of WTO-authorized countermeasures to Airbus subsidies – will increase the total import duty to the United States to 43%.