The Ministry of Economy of Ukraine on US duties: The situation is difficult, but not critical

Yulia Svyrydenko, photo: zn.ua

Ukraine's Ministry of Economy is considering revising trade terms with the US following the introduction of US duties on Ukrainian goods.

In a post on Facebook, the head of the Ministry of Economy, Yuliia Svyrydenko, said that the situation is difficult, but not critical. She stressed that Ukraine has avoided such high tariffs as Moldova (31%) or the EU (20%).

According to her, last year Ukraine exported $874 million worth of goods to the US, of which $363 million was for pig iron and another $112 million for pipes. At the same time, imports from the US totalled $3.4 billion.

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The minister noted that the US universal duty will have the greatest impact on small producers. The government is already working to improve trade conditions for Ukraine. She reminded that the country supplies more than 600 different categories of goods to the United States, of which 65 items have an export volume of more than $1 million.

Yuliia Svyrydenko also emphasised that Ukraine remains a reliable ally and partner for the United States, and that fair trade conditions will benefit both countries.

As a reminder, the European Union is finalising the first package of measures in response to the imposition of import duties by US President Donald Trump.

The President of the European Commission, Ursula von der Leyen, stressed that the global economy will suffer massively due to these duties and added: «The consequences will be dire for millions of people around the world». She noted that the EU is preparing to protect its interests and business.