Yesterday’s (31.7.25) announcement of the new, second world chart of US duties, which will come into force on August 7, 2025, by President Donald Trump, did not bring any … surprise.
Most of these duties had already been announced (eg India, Brazil) or agreed (eg, EC, Japan).
The fact, however, that there was no surprise, anything but means that this tariff “map” should now be considered “given” (and therefore there will be no surprise) from now on.
And that for Three basic reasons:
1. Presses the US ultimatum against Russia and its commercial partners
First It is already running a countdown of more than ten days (ie until August 10, 2025) until the expiry of the deadline that Trump has set to Putin in order to get a truce in the Ukraine war (at the same time that the Russian army is not stopped).
Otherwise Trump has threatened with “Secondary” penalties – 100% duties all the commercial partners of Russia.
Thus, if there is no truce in Ukraine around August 10, 2025, and Trump carries out his threats, he would substantially overthrow the whole world of duties he announced yesterday (31.7.25).
And this is because the main commercial partners of Russia and the world economy, such as China, India and Brazil, which pay for 30%, 25% and 50% duties, would move to the factor of … 100%, which would equate the US and the US.
This would go a walk … the soothing analyzes of recent days that ultimately the recession in the US or even in the EU, as a consequence of the tariff war, would ultimately be (?) Milder than expected.
- As for the Greece, US duties of 15% are considered by banks analysts with whom Newsit.gr contacted, even more difficult than 10%, “absorbable”, while the basic scenario does not provide any tariff exception of feta, olive oil and edible olives (2018). which are critical to the US production chain.
2. The final content of the US -EU Agreement pending
Secondly, the commercial and investment Agreement in which US and EU have reached Last Sunday, July 27, 2025 is ‘policy’ and it doesn’t have ‘Legal Power’ (although 15% duties will be in force from August 7, 2025), while there are many open fronts not only in relation to duties and in relation to marketsbut (attention) and of the American weapons by Europeans.
The final details of the US -EU agreement will be negotiated between the two sides in the coming weeks, according to information from Brussels.
Practically, this means that in the best case In early September 2025, the content of the Washington -Brussels Agreement will be clear.
However, the messages emitted by analysts in Germany (and not only) in relation to the consequences of this agreement on the European economy, are all positive and these are specific countries such as Greece:
- The 15% (and not 10%) duties will come to sit over 13% of the dollar than the dollar, making European exports by… 28%.
- The increase in US LNG imports in Greece will push up the cost of the total energy package (with negative consequences for businesses and households) and thus prices, at the same time that there are even more intense tendencies for recovery of inflation for “internal” reasons, such as rental costs.
- The EU’s “implicit” agreement to purchase even more US equipment systems – though it will support the new NATO target of 5% – will burden Greece’s already burdened current account while not giving the expected impulse to defensive and European (Greek) and European (Greek).
3. The US -China Final Agreement pending
First of all, there is a great deal of pending with China, and in particular how much US duties will go up. Although there is one one Sino – US Affiliate for US duties 30% This has an expiration date after the next three notes until October.
This means that there will be uncertainty in trade relations between the two economic superpowers.
- The higher duties impose on China on the US, the greater the “diversion” of its cheap products to Europe and the extermination of its own products (eg electric cars) from European markets, which will hit industrial production in Europe.