For the current global financial news and the consequences of imposing duties by US President Donald Trump, both in Greek and world economy, he spoke to the Vasilis Koufopoulos and the broadcast ‘Snapshots’ At SKAI 100.3, on Thursday, April 3, 2025, the economist and head of the Prime Minister’s financial office, Michalis Argyrou.

Mr. Silver He said that the US president’s decision is’A fundamental change in the global commercial and economic system, a development that overturns decades of data, decades of facts characterized by the development of international trade for the benefit of global development. “

‘It’s about a change of model‘, He continued, “which is not in the direction of the European Union, which supports the seamless, free trade, under rules.”

‘Uncertainty and volatility’

In the midst of ever -increasing uncertainty and just one day after the duties announcements, “We cannot know the complete new environment that will be shaped by the reaction of the US trade partners, and therefore the reaction of Europe, as well as the major commercial partners, such as China and Japan,” noted by Mr. Silverstressing that “We also need to see how the financial system will react to the future, which today did not react well today.” However, he expressed the view that in the next few days there will be ‘Great volatility’; Until the data are known and until the markets are able to understand and analyze this data.

‘We are at the beginning of a difficult period’, noted by the Head of the Prime Minister’s Financial Office, “Another crisis, which if eventually evolves can create serious turmoil in the world economy.”

‘Day of Liberation’

The US has been presenting a deficit in the outdoor sector over the last – just – years, which practically means importing more products than they export. This is a very big problem For the country’s economy, according to US economists, and for this reason, Donald Trump spoke of “Release Day”.

Mr. Silver He explained that Trump’s goal is for the United States to reduce this deficit through duties. “Duties will help reduce the deficit and develop the country in the form of investment, and this in turn will create more new jobs and higher income for American citizens. Nevertheless the historical experience has shown that Commercial Wars lead to bilateral lossesboth for those who impose duties and for those who exist. “

‘Communication Channels’

Mr Argyrou agreed with the statement by the President of the Commission, Ursula von der Layenwho said that “Europe is prepared for the worst, but at the same time it is ready to negotiate with the US.”

“We must maintain open channels of communication with the US and do the right negotiations in order to make advantageous agreements,” noted by Mr. Silver.

The head of the Prime Minister’s financial office also stressed that “Europe is represented single, as a whole, it is following a common commercial and agricultural policy. Each Member State does not only look at its internal interests, but it is equal to the decisions of the European Union. “

“Will we play defense or attack?”

Mr. Silver He then responded to a question from his journalist SKAI; Santa Claus Koufopoulos, Regarding the attitude of Europe against Trump’s duties.

‘We have to be processed and effective’the economist replied. “There should be channels of communication with other “players involved”, said and expressed hope that in the end as a result “The good scenario will prevail for the benefit of all, which is the restoration of normalcy in the international economic system.”

‘First Capital Markets’

The answer of K. Silver To his listener question SKAIabout when we will be called upon to deal with the consequences of the imposition of the US president’s duties, when these consequences are expected to affect our daily lives.

“When there are new financial data, the first ones affected or affected by the consequences of an economic action are the capital marketsthe financial sectorfor example those who hold shares, investors, entrepreneurs … “, replied.

‘The consequences of duties will be felt in the economy, in the daily life of the household in 12 to 18 months‘concluded K. Silver.

Listen to Mr. Michalis Argyrou, an economist and head of the Prime Minister’s financial office, in SKAI 100.3 (from 02:30 to 13:05).