Ministry of Economy on Trump's tariffs for Ukraine: Challenging but not critical
Photo: First Deputy Prime Minister and Minister of Economy of Ukraine Yulia Svyrydenko (Vitalii Nosach, RBC-Ukraine)
The United States has imposed a 10% tariff on Ukraine, but this is not critical. Kyiv has something to offer Washington, according to the First Deputy Prime Minister and Minister of Economy of Ukraine Yulia Svyrydenko.
“What do the new US tariffs mean for Ukraine? Challenging, but not critical. We will be subject to a general tariff of 10%. There is no separate higher one, such as Moldova's 31% or the EU's 20%, for Ukraine,” Svyrydenko said.
She added that in 2024, Ukraine exported $874 million to the United States, of which $363 million was for pig iron and $112 million for pipes. At the same time, Ukraine purchased US goods worth $3.4 billion.
Nevertheless, Ukraine's tariffs on American goods remain quite low, for example, the rate for cars is 10%, and for coal and oil - 0%. In total, more than 600 different categories of Ukrainian goods are exported to the United States, including 65 types of products worth more than a million dollars. In this regard, Kyiv has a chance to negotiate other terms as a reliable ally and partner, as both our countries will benefit from fair tariffs.
“If everything remains as it is, the US universal tariff will hit mostly small producers. That is why we are already working to ensure that Ukraine has better conditions,” Svyrydenko explained.
US trade war
Yesterday, on April 2, US President Donald Trump signed an executive order imposing import tariffs on many of the US trading partners. For some countries, the tariffs have become much higher: 34% for China and 20% for the European Union (EU).
The US imposed 25% tariffs on all cars assembled in other countries.
Meanwhile, the Chinese Ministry of Commerce, commenting on the US decision, called for the immediate abolition of tariffs and threatened “countermeasures.”
