“Challenging but not critical”: what new US tariffs mean for Ukraine

A general 10% tariff will apply to Ukraine's exports to the US. This is considered "challenging but not critical". Source: Yuliia Svyrydenko, Ukraine's First Deputy Prime Minister and Minister of Economy, on Facebook

Quote: "What do the new US tariffs mean for Ukraine? Challenging but not critical. A general 10% tariff will apply to us.

Unlike Moldova, which faces a 31% tariff, or the EU with 20%, Ukraine will not have a separate higher rate."

Details: Svyrydenko reported that Ukraine's exports to the US amounted to US£874 million in 2024, of which US£363 million came from pig iron and another US£112 million from pipes. Meanwhile, Ukraine imported US£3.4 billion worth of goods from the US. Svyrydenko emphasised that Ukrainian tariffs on American goods are "fairly low" - 10% on cars and 0% on coal and oil.

Quote: "This gives us a chance to negotiate different terms - the US statement explicitly mentions such a possibility. If nothing changes, the universal American tariff will mainly affect small producers. That is why we are already working to secure better conditions for Ukraine." 

Details: Svyrydenko also noted that Ukraine exports over 600 different categories of a wide variety of goods, even spanners, to the US, including 65 types of products worth more than US£1 million each.

"Ukraine has much to offer the United States as a reliable ally and partner.

Fair tariffs will benefit both our countries," she added.

Background:

• US President Donald Trump has announced the introduction of "reciprocal tariffs" in response to other countries' trade policies.
• Global oil prices plummeted following Trump's announcement of new large-scale tariffs.

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