U.S. President Donald Trump has imposed new import tariffs, raising concerns among Ukrainian economists. Ukraine’s Minister of Economy, Yulia Svyrydenko, commented on the situation, stating:
This is reported by Business • Media
“It’s difficult, but not critical. A general tariff of 10% will apply to us. There is no separate higher tariff for Ukraine”
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Last year, Ukraine exported goods worth $874 million to the United States, of which $363 million was cast iron and $112 million was pipes. Meanwhile, the U.S. imported Ukrainian goods worth $3.4 billion. Despite the new tariffs, Ukrainian tariffs on American goods remain quite low: 10% on cars and 0% on coal and oil. This opens up opportunities for Kyiv to negotiate better terms, as fair tariffs could benefit both countries.
Svyrydenko also added:
“If everything remains as it is, the American universal tariff will mainly hit small manufacturers. Therefore, we are already working to secure better conditions for Ukraine”
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In Ukraine, it is believed that, given the small share of goods exported to the U.S., the new tariffs will not have a significant negative impact on the economy. However, it is worth noting that the global trade confrontation could slow down the economic development of Ukraine’s allies, particularly the countries of the European Union, which, in turn, may reduce financial aid opportunities for Ukraine.