US tariffs challenge Ukrainian trade but talks offer hope
The United States has introduced new tariffs globally, including a 10 per cent tariff on Ukrainian goods. Ukraine's First Deputy Prime Minister, Yulia Svyrydenko, reported on the implications this will have for Ukrainian exports.
What do you need to know?
- New US tariffs: The United States has imposed a 10 per cent tariff on Ukrainian export goods. This general tariff is not as high as in the case of other countries, such as Moldova (31 per cent) or the European Union (20 per cent).
- Export value: In 2024, Ukraine exported goods to the US worth approximately $874 (£664) million, of which about $363 (£276) million were iron exports and roughly $112 (£85) million were pipes.
- Possibility of negotiations: Ukraine has the opportunity to negotiate better trade terms with the US, which could mitigate the impact of the new tariffs on small producers.
What are the details of the new US tariffs on Ukraine?
Ukraine's First Deputy Prime Minister, Yulia Svyrydenko, stated that the new tariffs on Ukrainian export goods to the US are 10 per cent. "Difficult, but not critical," Svyrydenko assessed.
She noted that Ukrainian tariffs, compared to those set by Donald Trump for other countries, are low. "There is no separate higher tariff, such as 31 per cent in Moldova or 20 per cent in the EU, for Ukraine," wrote Ukraine's Deputy Prime Minister.
What goods are covered by the tariffs?
In 2024, Ukraine exported goods to the US worth approximately $874 (£664) million. The largest portion consisted of iron and pipes. Svyrydenko emphasised that Ukraine exports to the US over 600 different categories of goods, including wrench keys. Sixty-five types of exported products exceed a value of approximately $1 million (£760,000).
Does Ukraine have a chance for better conditions?
Svyrydenko noted that Ukrainian tariffs on American goods are relatively low, giving Ukraine the opportunity to negotiate better trade terms.
"The American statement clearly speaks of such a possibility. If everything remains as it is, the universal American tariff will mainly affect small producers. Therefore, we are already working to ensure better conditions for Ukraine", announced the Deputy Prime Minister.
"Ukraine has something to offer the United States as a reliable ally and partner. Both our countries will benefit from fair tariffs," Svyrydenko added. "The American declaration clearly indicates this possibility," added Svyrydenko.
