Reflections on the US Election: Greece’s Strategic Role in a Recalibrating World
By Alexandra Loli, PhD | Business Partners, Jan-Feb 2025

The re-election of Donald Trump as the 47th President of the United States marks a defining moment in international relations, particularly in regard to trade partnerships and geopolitical strategy. For Greece and Europe, this development brings both exciting opportunities and inevitable challenges.

Looking ahead, we anticipate significant shifts in the US agenda, including a potential emphasis on strengthening trade agreements with key partners such as Greece. This presents a promising opportunity for Greece’s economy to continue attracting US investments and to further deepen the vital business and cultural ties that bind our two nations. The longstanding partnership between Greece and the United States, rooted in shared values and common interests, has always been a source of strength—and now, more than ever, it must continue to evolve.

Greece and the United States share a commitment to fundamental priorities that transcend borders

However, with opportunity comes complexity. There is a possibility that protectionist tendencies may resurface, necessitating adaptability on the part of Greek businesses. A more self-focused US trade policy could challenge Europe to rethink its position on the global stage. For the European Union, this moment may serve as a catalyst—a chance to reassess its cohesion, reaffirm its purpose, and emerge as a more unified and resilient entity capable of standing shoulder-to-shoulder with global powers.

Regardless of the political direction President Trump’s administration moves in, one thing remains clear: Greece and the United States share a commitment to fundamental priorities that transcend borders. We cannot afford to retreat from the global challenges that define our time: promoting open markets, defending human rights, reinforcing democratic values, and addressing the profound effects of climate change. These are universal imperatives that demand international solidarity and coordinated action.

The American-Hellenic Chamber of Commerce stands as a bridge between Greece and the United States, fostering dialogue and collaboration that benefit both sides of the Atlantic. In the face of evolving policies and priorities, we remain steadfast in our mission to strengthen economic ties, promote innovation, and advocate for policies that serve the mutual interests of our members and the broader transatlantic community.

Now is the time to work together to gain a clearer understanding of how we might navigate this next chapter in US-EU relations. By focusing on shared values, promoting collaboration, and embracing the opportunities that lie ahead, we can ensure a future of mutual benefit and sustainable growth. As we step into this new era, let us reaffirm our commitment to the principles that unite us, and let us continue to build on the strong foundation of friendship, trust, and cooperation that defines the Greece-US relationship. Together, we can turn challenges into opportunities and create a brighter future for generations to come.

The results of the recent US presidential election mark a turning point that could reshape the global economic environment. Regardless of political transitions, however, the foundations of Greece-US economic collaboration remain strong and are driven by shared interests and values.

Greece and the United States are key NATO allies, collaborating on shared democratic values, regional stability, energy security, and economic development. Since 2018, the Strategic Dialogue between the two countries has been strengthening ties, while defense agreements enhance military cooperation. Cultural exchanges, US investments in Greece’s tech sector, and historical connections further strengthen a robust and growing partnership.

Greek businesses have unique opportunities to tap into the US market, especially in the technology and innovation sectors

Greece’s emergence as a regional energy hub—bolstered by investments in renewable energy and LNG infrastructure—aligns with US priorities for energy security and independence. These developments pave the way for increased US investment, fostering innovation and job creation across both nations.

In business, the evolving transatlantic landscape opens avenues in digital transformation, defense innovation, and education. Greek businesses have unique opportunities to tap into the United States market, especially in the technology and innovation sectors. The growing trend of digital transformation across industries offers fertile ground for transatlantic partnerships, particularly in the fields of AI, fintech, and green technologies.

In defense, Greece’s strategic location and its robust partnerships through NATO can anchor stability in the Eastern Mediterranean, even as US foreign policy potentially rebalances its commitments. By maintaining diplomatic agility, Greece can continue to act as a mediator and advocate for regional cooperation.

Challenges remain, particularly in navigating potential shifts in United States trade policy that could affect European markets. However, Greece stands ready to leverage its strategic assets, historical ties, and modern ambitions to forge a dynamic path forward.

A crucial shift in global politics, the recent US election offers Greece, as a key transatlantic partner, new opportunities for deeper collaboration with the United States. While uncertainty surrounds US-EU trade policy, with potentially varying impacts of tariffs across European economies, the fundamental factors that make Greece attractive to US investors remain strong: institutional stability, a skilled workforce, an improving business climate, and a strategic position as Southeast Europe’s gateway.

Our bilateral relationship with the US exemplifies how shared values drive prosperity and security

Emerging sectors present particularly promising areas for collaboration, including clean energy, digital transformation, the defense industry, and infrastructure. These align with both US strategic interests and Greece’s economic modernization goals. The recent expansion of major US technology companies into Greece demonstrates this potential, laying the groundwork for a knowledge-based economy and sustainable growth.

As Greece strengthens its position as a pillar of stability in the Eastern Mediterranean, our bilateral relationship with the United States exemplifies how shared values drive prosperity and security. Building on these strong relations will help realize this strategic partnership’s full potential through reinforced efforts toward a more competitive economy, strengthening investment in productive sectors, fostering high-tech startups, and attracting talent while improving equality of opportunity.

As Vice President of the American-Hellenic Chamber of Commerce and presidential candidate in the Chamber’s upcoming elections, I recognize our Chamber’s vital role in facilitating networks and promoting bilateral trade. We must engage with corporate America’s diverse business ecosystem, identify strategic interests, maintain continuous dialogue, and build solid relationships with leaders who see Greece’s investment value. By bringing the two business communities closer, we become stronger together, and through sustained collaboration, we can unlock the full potential of this strategic partnership.

As the world battles to navigate the unchartered waters of the Trump 2.0 era, it is crucial to remember that the United States has historically proven time and again its unique capacity to make strong and highly impactful comebacks.

From Franklin D. Roosevelt and the New Deal to Harry Truman and the Marshall Plan to, most recently, the way the US economy recovered from the devastating results of the global financial crisis and the COVID-19 pandemic, the United States has repeatedly demonstrated a deep resilience against perfect storms.

Greece is considered a trusted and vital partner in a region full of highly erratic players

President Trump’s return to the Oval Office and his first round of executive orders fired up justified concerns and debates among friends and rivals. And although we should be prepared for a long and bumpy ride, there are a couple of points that we should keep in mind.

The Washington apparatus has a long and proven record of staying on course when it comes to the national interests of the United States, regardless of who gets to sit behind the Resolute desk, and transatlantic relations play a vital role in US national interests, as well as the broader security of the western world and the global economy, especially considering todays’ multilayered geopolitical and geoeconomic challenges.

Since 2017, US-Greece relations have evolved into a truly strategic bond, fully aligned to those US national interests, empowered by various elements across the board. From defense and regional energy security to innovative technologies, education, and economic collaboration, Greece is considered by most key stakeholders in Washington a trusted and vital partner in a region full of highly erratic players.

It is now time to rethink our strategies, employ our expertise and proven capabilities, unite our efforts beyond short-minded or self-centered interests, and engage boldly in this new arena to highlight, safeguard, enhance, and propel forward US-Greece relations without jeopardizing the monumental opportunities of the Greek economy for broadly shared growth and prosperity.

The 2024 US presidential election marked a turning point in global priorities, offering Greece an opportunity to deepen its strategic relationship with the United States. Innovation, education, and entrepreneurship are critical areas in which this collaboration can thrive, positioning Greece as a bridge of stability and growth in the Eastern Mediterranean.

Greece has the talent, location, and determination to play a leading role in a recalibrating world

Greece’s entrepreneurial ecosystem, fueled by an emerging culture of innovation, aligns closely with US strengths. From advanced technologies such as AI to clean energy and digital transformation, bilateral cooperation can unlock new opportunities for investment, knowledge-sharing, and co-innovation. By fostering joint ventures and facilitating technology transfer, we stand to strengthen both economies while driving sustainable growth.

Education plays a pivotal role in this vision. Transatlantic programs, skills training, and academic partnerships focused on STEM, sustainability, and digital innovation will equip the next generation with the tools to lead in a competitive global landscape. Investing in talent development is not only an economic imperative but a strategic one too, reinforcing Greece’s role as a reliable and capable partner.

At the American-Hellenic Chamber of Commerce, we believe this is a moment to act. By capitalizing on shared values and goals, we can build a future defined by progress, resilience, and mutual benefit. Greece has the talent, location, and determination to play a leading role in a recalibrating world—strengthening US-Greece ties through innovation and education will be key to that success.

Greece presents a dynamic environment for transatlantic and bilateral investment, offering opportunities in key sectors such as renewable energy, tourism, technology, and infrastructure. As a member of the European Union, and strategically located at the crossroads of Europe, Asia, and Africa, Greece serves as a gateway for international trade and investment. Alongside an overall business-friendly environment, the country’s skilled workforce, growing tech ecosystem, and government incentives for innovation further enhance Greece’s appeal to investors.

Bilateral initiatives, particularly with the US, can deepen ties in sectors including defense, technology, and education

Post-crisis investments in infrastructure, including modernized airports, ports, and highways, have boosted connectivity and trade. The real estate market has also experienced growth, driven by foreign investors and initiatives such as the Golden Visa program, whilst the tourism industry, and the expanding market of high-end hotel and leisure projects and branded residences, is also a significant market driver. At the same time, Greece is actively fostering innovation through startup incubators and partnerships, creating an attractive environment for tech investments. Its climate and geography provide ideal conditions for clean energy investments, aligning with the country’s goals to achieve carbon neutrality by 2050.

However, challenges persist. Bureaucratic inefficiencies, complex regulatory frameworks, the slow pace of rendering justice, and the effect of the financial crisis affecting major European markets can deter investors. Additionally, Greece faces competition from neighboring Mediterranean countries offering similar advantages. Strengthening its judicial and regulatory systems is critical to unlocking Greece’s full potential.

Bilateral initiatives, particularly with the United States, hold promise for deepening ties in sectors including defense, technology, and education. Leveraging cultural ties and fostering dialogue can help Greece overcome challenges, positioning it as a vibrant hub for innovation and investment in the transatlantic context.

Greece’s tertiary education landscape, currently under formation, provides an excellent opportunity to further strengthen US-Greece relations through education. The introduction of the Greek government’s recent law allowing the establishment of non-state, non-profit universities, the systematic work toward internationalization by the country’s US-affiliated non-profit private colleges, and the growing extroversion of public universities will benefit our country at many levels—especially when it comes to academic collaborations with the United States.

Educational partnerships serve as a solid bridge between nations

Greece’s leading private colleges have made considerable efforts in recent years to attract US students to Greece through a range of initiatives, including semesters abroad, full degree and faculty-led programs, as well as through summer schools and cultural immersion programs for US students of Greek heritage, designed to strengthen the valuable ties with the Greek diaspora in the United States. The combined efforts of these higher education institutions have significantly contributed to Greece climbing to the top 10 preferred international destinations for US students. ACG alone, in the current academic year, has attracted over 1,200 US students, from 43 different US states and 167 institutions.

Educational partnerships serve as a solid bridge between nations. Educational partnerships with the US, the country with the best higher education system in the world, not only enrich academic experiences and drive research and innovation but also promote cross-cultural understanding and lifelong connections between the two nations. More importantly, they constitute a pivotal pillar of economic growth and enhance diplomatic ties by producing globally minded and engaged leaders. Our world needs such leaders today more than ever.

Greece has been a historically important ally of the United States in the strategic area of Eastern Mediterranean and Southeast Europe. I also deeply believe that Washington values indeed our country’s stabilizing role in the region as much as we appreciate theirs. And this is particularly true today, as our region lies in such close proximity to the war in Ukraine and the multiple crises in the Middle East.

In recent years, Greece-US relations have witnessed an astounding expansion in all fields

In recent years, Greece-US relations have witnessed an astounding expansion in all fields, from security and military cooperation to energy, bilateral trade, investment, technology, and tourism. These relations, I believe, will further expand under President Trump and the new administration, as they are based on strong common interests and values that overarch political parties. Furthermore, the deep friendship and alliance between our two nations has been continuously nurtured by the Greek American community and the many friends that the United States has in this country, among which the American-Hellenic Chamber of Commerce plays an important role.

However, the excellent state of our bilateral relations in all the above mentioned fields should not make us complacent and result in a lack of motivation for further improvement. Areas such as technology, renewable energy, agriculture, academic cooperation, research and development in biotechnology, and US investment have room for expansion. Our efforts should aim, relentlessly, toward this goal.

Let us then continue our work on further enhancing our ties, proud of our achievements and eager to bring the level of our friendship and cooperation to an even higher level.

Donald Trump’s first term as president introduced significant changes and challenges for the pharmaceutical industry, marked by anticipated regulatory reforms, economic policies, and debates over drug pricing.

In terms of the regulatory environment, President Trump aimed to streamline the FDA approval process to reduce time and costs for new drugs, which raised both optimism for faster innovation and concerns about drug safety.

In the field of healthcare reform and drug pricing, Trump’s criticism of high drug prices led to proposed measures for affordability, such as allowing cheaper drug imports, increasing pricing transparency, and putting pressure on pharmaceutical companies to adjust their pricing models.

Regarding economic policies and market dynamics, while corporate tax cuts and deregulation under Trump’s administration were expected to benefit the pharmaceutical industry, in practice, trade policies and tariffs introduced uncertainties, particularly for companies with global supply chains.

The impact of the administration’s economic policies was also clear in the areas of pharmaceutical R&D and technological innovation. While Trump’s support for deregulation and tax incentives encouraged R&D investment, the focus on reducing drug prices created a challenge for maintaining high investment levels. Companies were expected to leverage new technologies such as AI and big data to stay competitive.

Greece’s pharmaceutical industry must continue to build on its key strengths to maintain its momentum and keep growing

Given this track record, pharmaceutical companies will have to be ready to adapt their strategies and continue investing in new technologies in order to navigate the policies and expectations ahead during President Trump’s second term. Greece’s pharmaceutical industry must continue to build on its key strengths—particularly in the areas of innovation, the country’s strong R&D and manufacturing capabilities, and its outstanding talent pool—to maintain its momentum and keep growing. Greek pharma must maintain its commitment to patient safety and efficacy and strike the necessary balance between seizing opportunities and mitigating risks while continuing to expand exports and deliver value to stakeholders.

The bond between Greece and the United States, transcending shifts in political leadership, must remain steadfast and mutually beneficial, with a particular focus on fostering collaboration in culture, driving innovation, and ensuring regional stability.

Greece, with its rich cultural heritage and strategic geopolitical position, has the potential to emerge as a global center for cultural exchange and creation. Now more than ever, as we enter the era of artificial intelligence, in which human contribution makes the critical difference, culture and values are the crucial elements that can prevent global conflicts.

Now more than ever, culture and values are the crucial elements that can prevent global conflicts

Cultural diplomacy can serve as a tool for building international alliances, promoting global messages of peace, collaboration, and sustainability. Greece, as a bridge between East and West, has the capacity to lead initiatives that foster cooperation and peace through cultural exchange and dialogue. Building on its historic role as the birthplace of philosophical and scientific discourse, Greece can become a key partner in many areas including culture, the sciences, and sustainable development. Such collaboration would enhance Greece’s image as a hub of knowledge and creativity, while simultaneously promoting its universities and academic community, and highlighting its wealth of genuine talent and innovation.

Top US universities frequently dominate international rankings, having established global centers of excellence and innovation grounded in evaluation and measurable outcomes. Their academies are benchmarks for research, technology, entrepreneurship, and cultural exchange. Collaboration with such educational and research institutions offers Greece a unique opportunity to strengthen its academic and cultural ties, showcasing its rich cultural heritage and scientific advancements.

Greece has the opportunity to secure its position as a protagonist in the global cultural dialogue, making its culture a powerful pillar for humanity’s future. By fully recognizing its position and potential, Greece can ensure its contributions to the world remain timeless and transformative.

The election of the new US administration marked the end of a prolonged period of election uncertainty, which gives its place to policy uncertainty, with tariffs, taxes, energy, security, regulatory, and fiscal policy shifts expected to take center stage. Against this backdrop, we must examine the dynamics of US-Greek relations within the broader context of US-EU relations, while also taking into account the strong trade ties between the two countries.

Starting with US-EU relations, while tariffs on EU goods can’t be excluded, they may not apply uniformly across products, and the EU will likely make concessions to avoid them. Even if this scenario materializes, however, we can expect the implications for Greece to be mild, given the country’s role in trade as a significant buyer of US liquefied natural gas and its recent success in attracting US investments.

Greece shines as a model of political and economic stability in the region

Greece’s longstanding alliance with the United States, its enhanced geopolitical role—particularly given the severe geopolitical developments in the region—, and the aligned interests of the two countries will most probably play a positive role in the new administration’s approach. After successfully overcoming a decade-long financial crisis, Greece shines today as a model of political and economic stability in the region—a fact that is key not only for US-Greek relations but also for attracting foreign investments.

As the new administration comes into power, shifts in foreign policy are expected, especially at the European level, but we should keep in mind that diplomacy thrives on a balance of innovation and continuity. I believe that continuity will weigh more on the new administration’s view on the future of the US-Greece relationship. This is no accident. It reflects decades of consistent collaboration, shared values, and interests.

The new US administration takes office at a pivotal moment for global dynamics, offering Greece significant opportunities to solidify its strategic importance. As the birthplace of democracy, Greece has cultivated a longstanding, multifaceted relationship with the United States, the world’s strongest democracy and economy. Moreover, the Greek diaspora plays a vital role in today’s US, contributing significantly to economic growth and strengthening social cohesion during these times of uncertainty and constant change.

Greece’s strategic location has consistently been a cornerstone of its value in global trade and geopolitical dialogue. As a leading member of the European Union and the eurozone as well as a non-permanent member of the UN Security Council for the 2025-2026 term, Greece can be a reliable partner and mediator in the Middle East and Africa—regions characterized by ongoing volatility that poses challenges to global stability.

Greek industry, driven by innovation, acts as a multiplier of strength for the country and its people

At the same time the country’s industrial sector, driven by innovation, acts as a multiplier of strength for Greece and its people. Meanwhile, the country has regained its credibility in international markets, and its position as a hub for commerce further enhances its development prospects. This has attracted major investments in key sectors that drive sustainable growth, not least in innovation and technology.

Innovation enables industry to tackle domestic and global challenges, elevate quality standards, and generate greater collective value. As we navigate this new era, Greece’s steadfast focus on building resilient industries, attracting strategic investments, and leveraging its human capital will secure its prominence in an evolving global order.