Ukraine’s Economy Minister Yulia Svyrydenko has called new U.S. tariffs on Ukrainian goods “tough, but not critical”, while officials warned of a broader indirect impact on the country’s economy.
Under U.S. President Donald Trump’s new trade measures, Ukraine now faces a 10% tariff, while the European Union and other U.S. allies are subject to a 20% duty.
Notably, Russia was excluded from the tariff measures.
Svyrydenko wrote on X that Ukraine is prepared to “negotiate other terms” with the U.S., citing the trade imbalance between the two countries.
She added that Ukraine bought $3.4 billion worth of American goods in 2024 while exporting just $874 million to the U.S.
Notably, Russia was excluded from the tariff measures.
Critics argue that the tariffs on Ukraine are a form of economic pressure, speculating that they stem from Kyiv’s refusal to fully accept a U.S. mineral resources deal.Trump has imposed new tariffs on many countries, including Ukraine - but Russia is not on the list….. pic.twitter.com/gDLt8Tdg9w
— Saint Javelin (@saintjavelin) April 2, 2025
Svyrydenko wrote on X that Ukraine is prepared to “negotiate other terms” with the U.S., citing the trade imbalance between the two countries.
She added that Ukraine bought $3.4 billion worth of American goods in 2024 while exporting just $874 million to the U.S.
However, official U.S. trade data from Census.gov states that in 2024, the U.S. exported $1.68 billion in goods to Ukraine while importing $1.19 billion.
“If everything remains as it is, the U.S. universal duty will hit mainly small producers. Therefore, we are already working to ensure that Ukraine has better conditions,” Svyrydenko said.
Danylo Hetmantsev, head of Ukraine’s parliamentary finance committee, warned that the greater impact may come indirectly.
In a Telegram post he said that a global trade war could slow European economies, potentially leading to reduced financial aid for Ukraine.
Additionally, rising protectionism in the EU could further limit Ukrainian exports.
The European Union has also expressed concerns about Trump’s broader trade policies.
European Commission President Ursula von der Leyen criticized the tariff increases, arguing that while the global trade system needs reform, tariffs should not be the primary solution.
“If everything remains as it is, the U.S. universal duty will hit mainly small producers. Therefore, we are already working to ensure that Ukraine has better conditions,” Svyrydenko said.
Indirect impact
Danylo Hetmantsev, head of Ukraine’s parliamentary finance committee, warned that the greater impact may come indirectly.
In a Telegram post he said that a global trade war could slow European economies, potentially leading to reduced financial aid for Ukraine.
Additionally, rising protectionism in the EU could further limit Ukrainian exports.
The European Union has also expressed concerns about Trump’s broader trade policies.
European Commission President Ursula von der Leyen criticized the tariff increases, arguing that while the global trade system needs reform, tariffs should not be the primary solution.
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