Ukraine has a chance to revise US tariffs – Svyrydenko

The First Vice Prime Minister noted that the Ministry of Economy is already working on this

The Ministry of Economy of Ukraine has commented on the new tariffs announced by US President Donald Trump. The ministry believes that the country has a chance to negotiate better terms.

In a Facebook post, First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko noted that Ukraine will be subject to a 10% general duty, and there is no separate higher tariff like Moldova (31%) or the EU (20%). She called the situation difficult, but not critical.

According to Yulia Svyrydenko, in 2024, Ukraine exported $874 million worth of goods to the United States, of which $363 million was cast iron and $112 million was pipes. Last year, the volume of imports of American goods to Ukraine amounted to $3.4 billion. Ukraine supplies more than 600 different categories of goods to the United States, including 65 types of products worth more than $1 million.

At the same time, Ukrainian duties on American goods are quite low – the rate for cars is 10%, for coal and oil – 0%.

Therefore, Ukraine now has every chance to negotiate other terms, as the American statement clearly indicates this possibility.

“If everything remains as it is, the US universal duty will hit mainly small producers. Therefore, we are already working to ensure that Ukraine has better conditions,” the First Vice Prime Minister said.

Yulia Svyrydenko emphasized that Ukraine has a lot to offer the US as a reliable ally and partner, and both countries will benefit from fair duties.

According to GMK Center’s research, Ukraine is one of the countries most affected by trade regionalization. There are 28 trade restrictions against Ukrainian steel products.

In particular, the US has seven anti-dumping measures against Ukrainian steel products. Four of them were introduced before 2001, when Ukrainian steel exports did not exceed 24 million tons. Last year, the United States extended two anti-dumping measures against hot-rolled coils and rebar from Ukraine.

As a reminder, on April 2, US President Donald Trump announced the introduction of large-scale tariffs against the country’s trading partners. The minimum basic tariff on imports from all countries will be 10%, which will come into effect on April 5 this year. In addition, starting April 9, individual reciprocal higher duties will be introduced for countries with which the United States has the largest trade deficit.