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Nov 17th, 2024, 09:27 AM
#11
Re: Post election prediction
 Originally Posted by sapator
Just a heads up , all of Greece is rooting for Trump.
That wont last long. The EU is Greece's largest export market, accounting for around 50-60% of total exports. Greece exports to the US is 5 to 10%. If Trump imposes high tariffs on EU manufactored goods, the EU will manufacture less for the US market. EU manufacturing companies will import less from Greece then (machinery, chemicals, fuels) if their revenue drop is steep, and some might halt imports altogether, specially if they close factories. Some of their factories in the US might even be impacted if they relied on imports from EU countries. Consumers in Europe will tighten their belts and buy less Greek products. Greece's olive oil exports of €2.5 billion and €3 billion might get slashed by more then 50%. Less demand for EU products will cause unemployment everywhere. Tourism will also be affected in Greece and other European countries. The whole world will be affected by this tariff ripple effect, meaning the EU, including Greece, will have trouble attracting tourists and exporting products everywhere.
Last edited by Peter Porter; Nov 17th, 2024 at 10:14 AM.
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