Ukrainian Economy Minister Yulia Svyrydenko on Thursday said the reciprocal tariffs imposed by the US on Kyiv are “difficult, but not critical.”
On Wednesday, US President Donald Trump announced a minimum of 10% tariffs on imports from all countries to be effective from April 5, with tariffs on goods from the European Union set at 20%.
Trump said his decisions were a “declaration of economic independence” and will help the US return to its “golden age.” He also addressed an appeal to all foreign leaders “who will soon be calling to ask for exceptions to these tariffs.”
“What do the new US tariffs mean for Ukraine? It’s difficult, but not critical,” Svyrydenko said in a statement on X.
Noting that a general 10% tariff will apply to Ukraine, she said there is no separate higher tariff imposed on Ukraine as in the case of neighboring Moldova or the EU.
Svyrydenko also said Ukraine had an export volume of $874 million to the US last year, with $363 million for cast iron and another $112 million for pipes. She further said Kyiv bought goods worth $3.4 billion from the US during this period.
“Therefore, now we have a chance to agree on other conditions-the American statement clearly indicates this possibility,” Svyrydenko noted.
She argued that the tariffs imposed by the US will hit mainly small manufacturers if things do remain as they are. Consequently, Kyiv is already working to ensure that the country has better conditions, she added.
“We export over 600 different categories of goods to the US, … including 65 types of products worth over $1 million. Ukraine has something to offer to the US as a reliable ally and partner. Both our countries benefit from fair tariffs,” the minister said.