The tariffs imposed by Donald Trump will not have a significant impact on Ukraine’s economy, stated Danylo Hetmantsev, head of the Verkhovna Rada Committee on Finance, Taxation and Customs Policy. He emphasized that the share of Ukraine’s goods exports to the US is quite insignificant, amounting to only 2% of the total export volume.
As Hetmantsev noted, despite the introduction of a 10% tariff, the negative effect for Ukraine will be minimal, as the volume of goods exports to the US is only 0.9 billion dollars. Meanwhile, the European Union will be more affected by these new tariffs.
"Undoubtedly, the 10% tariff itself will not have a major negative effect on Ukraine. I’m not even sure if we should respond with reciprocal measures," he stated. Hetmantsev also added that it is important to hear the position of the Ministry of Economy of Ukraine on this issue.
Hetmantsev emphasized that the economies of Ukraine’s trading partners, particularly the EU, will suffer the most from the global trade war. The slowdown of partner economies will mean a decrease in their ability to assist Ukraine during this difficult period.
At the same time, according to the head of the committee, the governments of partner countries will be forced to introduce protectionist measures, which in turn may have a greater impact on Ukraine, especially in the field of agricultural exports. Last year, Ukraine already faced difficulties in this area, even under more favorable conditions in global markets.
Overall, Hetmantsev noted that although this decision is not critical for Ukraine, it adds new challenges in the context of economic stability and interaction with international partners.