The news that Cyprus is expected to face limited effects if US President Donald Trump imposes additional taxes on EU products comes as a relief.
According to Phileleftheros, the potential tariffs will not significantly impact the economy of Cyprus, though some companies may experience consequences.
Cyprus exports a variety of products to the US, including halloumi, fish, electronic products, and even “human blood,” with some items being re-exported.
From January to November 2024, exports to the US amounted to 22.67 million euros, while re-exported products were valued at 27.07 million euros. Despite these figures, the USA is not among the top 10 countries for Cyprus exports.
This limited impact is reassuring for the Cypriot economy, which can continue to focus on strengthening its trade relationships with other key partners.
While some companies may need to adjust, the overall economic stability of Cyprus remains intact.