Ukraine eyes better trade terms with U.S. amid tariff concerns, minister says

This was reported by Economy Minister Yulia Svyrydenko.

In 2024, Ukraine exported $874 million worth of goods and services to the U.S., including $363 million in cast iron and $112 million in pipes. Meanwhile, Ukraine imported $3.4 billion worth of goods from the U.S.

According to Svyrydenko, Ukrainian tariffs on American goods are already low — 10% for cars, and 0% for coal and oil.

"That means we have a chance to negotiate better terms — the U.S. statement clearly suggests this possibility. If nothing changes, the universal tariff will mainly hurt small producers. That’s why we’re already working to secure better conditions for Ukraine," the minister explained.

First Deputy Chairman of the Finance, Tax, and Customs Policy Committee, Yaroslav Zheleznyak, MP from the Holos party, wrote that Trump's tariffs "won't hit Ukraine hard." Since Ukrainian exports to the U.S. total less than $1 billion — just 2% of the country’s total exports — the impact will be limited.

In contrast, Ukraine imports five times more from the U.S. As Zheleznyak noted, Kyiv is subject to a relatively soft 10% tariff for this reason.

Most of Ukraine's exports to the U.S. are metal products, which have already been hit with a 25% tariff since March. Additionally, about a third of exports are agricultural and food products, which are set to face tariffs starting in April.

"So it's not a disaster, especially compared to others (our 10% tariff is nothing like China's 54%). There's a small twist, though — the EU, China, India, and others will now impose tariffs on U.S. goods in response… And that opens a window of opportunity for us to enter their markets," Zheleznyak wrote.

• U.S. President Donald Trump announced tariffs of at least 10% on almost all imports to the U.S. The new rates will take effect on April 9.