'Difficult, but not critical' — Ukraine's economy minister reacts to Trump's tariffs
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The Trump administration's latest tariffs are likely to be "difficult, but not critical" for Ukraine's economy, Economy Minister Yuliia Svyrydenko said on April 3, voicing hope for hammering out more favorable conditions with the U.S.
U.S. President Donald Trump unveiled a sweeping list of "reciprocial tariffs" on April 2, imposing a baseline 10% duty on all countries — including Ukraine — with even higher rates for major trade partners like the EU.
Ukraine's exports to the U.S. in 2024 amounted to $874 million, including $363 million in cast iron and $112 million in pipes, Svyrydenko said on Facebook. The same year, Ukraine imported $3.4 billion worth of U.S. goods.
Ukrainian producers sell over 600 different categories of goods to the U.S, according to the minister.
"Our tariffs on American goods are quite low — the rate on cars is 10%, on coal and oil — 0%," Svyrydenko said.
"Therefore, we now have a chance to agree on different conditions. The American statement clearly indicates such a possibility," she noted, adding that the tariffs will be felt most strongly by small producers.
Last month, the Trump administration imposed 25% tariffs on all steel and aluminum products imported into the U.S., though these commodities and other metals were exempt from reciprocal tariffs.
Steel production is a key sector of Ukraine's economy, the second-largest source of foreign currency after agriculture.
Some 60 countries or trading blocs were hit with additional duties higher than the 10% baseline, including the EU (20%), China (34%), and Taiwan (32%).
Russia, Belarus, and a handful of other countries were exempt from the list, with the White House arguing that the existing sanctions imposed on these nations already "preclude any meaningful trade."
