Ukrainian official on Trump's tariffs: Ukraine has 'quite advantageous' positions
Photo: Mykhailo Podolyak, advisor to the head of the President's Office of Ukraine (Vitalii Nosach, RBC-Ukraine)
The new tariffs imposed by US President Donald Trump will change the global economy. Ukraine will not remain unaffected, but it has "quite advantageous" positions compared to other countries, states Mykhailo Podolyak, advisor to the head of the President's Office of Ukraine, in a comment to the RBC-Ukraine YouTube channel.
"Well, this (Trump's new tariffs – ed.) breaks the global rules. You understand, it will impact the global economy, it will affect the redistribution of both financial and trade flows, and new economic alliances will be formed," Podolyak stated.
However, according to him, they will not affect Ukraine as much as more export-oriented countries.
"Let's look at it objectively. Our export and import look a bit different. We import much more. We have $3.5 billion in imports from the US and only $800 million in exports. So, for us, the negotiation positions are quite simple here. We can achieve reductions and get out of these 10% tariffs and so on," the official explained.
At the same time, Podolyak added that Trump's tariff issue has broader significance.
"The point is, this is a strategy, again, of the United States. They offer these tariffs to everyone, and then the negotiation processes are aimed at balancing the United States' trade balance. They want to reduce their national debt percentage. And also, to form new trade chains," the advisor added.
Ukraine will be indirectly involved in all of this, Podolyak noted. Since the percentage of trade between Ukraine and the US is not as significant as, for example, between Ukraine and the EU as a whole.
"However, the tariffs on the EU will affect production in the EU, leading to price increases in the relevant product chains. And all of this will impact the global economic process. Should we be involved in this? Absolutely. Should we negotiate within the framework of the United States – Ukraine, including on tariffs? Definitely. But our positions are quite advantageous," Podolyak concluded.
New tariffs by Trump
On April 2, US President Donald Trump signed an executive order imposing tariffs on imports from more than 180 countries. He explained this move as necessary to respond to "unfair tariffs" that other countries apply to American products.
According to the document, reciprocal tariffs will be imposed on certain countries in the range of 11% to 48%, while a "base" rate of 10% will apply to the rest.
