Bank of Greece Governor Yannis Stournaras said in an interview with Bloomberg News that Greece will experience limited direct effects from US tariffs, as exports to the US make up just 4.5% of the country’s total exports.

“The direct effects are not expected to be material. However, Greece’s economy will be affected indirectly through the negative impact on euro-area’s GDP growth,” Stournaras said to Bloomberg.

According to Stournaras, the tariffs announced by the US administration are expected to reduce the euro area’s GDP growth rate by 0.3% to 0.4% in the first year; however, they do not pose an obstacle to a further rate cut in April.

Source: Ekathimerini.com