President of the United States Donald Trump has signed an order that increases tariffs on imports of steel and aluminum from 25% to 50%. The new rules take effect on June 4 and aim to regulate the volume of imported steel and aluminum products and their derivatives to minimize risks to US national security.
This is reported by Business • Media
Ukraine’s Position and Impact on the Metallurgy Industry
Prior to the implementation of the 25% tariffs, which took effect on March 12, Ukraine had a temporary exemption for the export of metal products to the US granted by the Biden administration. However, the increase in the tariff barrier, as emphasized by the Ministry of Economy of Ukraine, may create additional difficulties for the Ukrainian metallurgy sector.
“The Ministry of Economy of Ukraine stated that the introduction of tariffs would negatively impact the Ukrainian metallurgy industry.”
Trade Volumes and Access Barriers
It is worth noting that the turnover of foreign trade between Ukraine and the US remains relatively small. Last year, the share of the US in the overall structure of Ukrainian exports was only 2.1% ($869 million), while imports from the US accounted for 4.9% ($3.4 billion). This small presence of Ukrainian goods in the American market is primarily explained by the complexity of entering it, significant competition, and high logistics costs.