Kyiv: Ukrainian Economy Minister Yulia Svyrydenko on Thursday said the reciprocal tariffs imposed by the US on Kyiv are ‘difficult, but not critical.’
According to Anadolu Agency, US President Donald Trump announced on Wednesday a minimum of 10% tariffs on imports from all countries, effective from April 5, with tariffs on goods from the European Union set at 20%. Trump described his decision as a “declaration of economic independence” aimed at helping the US return to its “golden age.” He also mentioned that foreign leaders would soon be reaching out for exceptions to these tariffs.
Svyrydenko, addressing the impact of these tariffs on Ukraine, stated, ‘What do the new US tariffs mean for Ukraine? It’s difficult, but not critical,’ in a statement on X. She highlighted that Ukraine will face a general 10% tariff, unlike higher tariffs imposed on neighboring Moldova or the EU.
Further details shared by Svyrydenko revealed that Ukraine had an export volume of $874 million to the US last year, with significant figures like $363 million for cast iron and $112 million for pipes. In contrast, Kyiv imported goods worth $3.4 billion from the US during the same period.
Svyrydenko expressed optimism about negotiating better terms, stating, ‘Therefore, now we have a chance to agree on other conditions – the American statement clearly indicates this possibility.’ She emphasized that the tariffs would primarily affect small manufacturers if no changes are made, prompting Kyiv to work towards more favorable conditions.
Highlighting the diversity of Ukrainian exports to the US, Svyrydenko mentioned, ‘We export over 600 different categories of goods to the US, . including 65 types of products worth over $1 million.’ She concluded by asserting that Ukraine, as a reliable ally, has much to offer the US, and both countries stand to gain from fair tariffs.