The tariffs could undermine international defense cooperation by jeopardizing joint military projects, including producing the F-35 fighter jet, air defense systems, and constructing nuclear submarines.
U.S. President Donald Trump on April 2 unleashed what he has dubbed "Liberation Day," imposing tariffs on nearly every country in the world — including war-torn Ukraine. Kyiv got off lighter than most with only a 10% tariff on all Ukrainian goods, compared to 20% on the E.U., and
Ukraine's exports to the U.S. in 2024 amounted to $874 million, including $363 million in cast iron and $112 million in pipes, Economy Minister Yuliia Svyrydenko said.
White House spokesperson Karoline Leavitt said that Russia and Belarus were left off the list because of the already imposed economic sanctions.
The European Union is set to receive a 20% tariff, while goods from China will be hit with an additional 34%. Ukraine is also included on the list, subject to a 10% tariff.
"The dominating view in the United States Senate is that Russia is the aggressor, and that this horrific war and Putin’s aggression must end now and be deterred in the future," the press release on April 1 said.
U.S. President Donald Trump threatened on March 31 to impose secondary tariffs on Russian oil exports if Russian President Vladimir Putin does not "make a deal" to end the war in Ukraine.
Those expected to be impacted by sanctions include Russia, Australia, Canada, the EU, and China, among many other expected targets, the Wall Street Journal (WSJ) reported.
The move follows U.S. President Donald Trump's decision to impose 25% tariffs on imported steel and aluminum, reigniting trade tensions between Washington and Brussels.
"I am strongly considering large-scale banking sanctions, sanctions, and tariffs on Russia until a ceasefire and final settlement agreement on peace is reached. To Russia and Ukraine, get to the table right now, before it is too late," U.S. President Donald Trump said.
"We'll be announcing it very soon. It'll be 25% generally speaking, and that will be on cars and all other things," U.S. President Donald Trump said.
The following is the Feb. 11, 2025 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Ukraine’s steel industry — one of its most critical sectors — just can’t seem to catch a break
First Deputy Prime Minister and Economic Development Minister Yulia Svyrydenko said that the decision to impose tariffs will naturally affect Ukraine's steel industry.
The European Commission criticized the decision as "unlawful and economically counterproductive," arguing that the deeply integrated supply chains between the EU and the U.S. would suffer under such restrictions.
Trump placed 25% tariffs on Mexican and Canadian goods, with only a 10% tariff on Canadian energy imports. He also imposed a 10% tariff on goods from China.
The BRICS group, composed of Russia, China, India, Brazil, and other nations, has been exploring ways to reduce reliance on the U.S. dollar.
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