How Trump’s tariffs will hit Ukraine

The tariffs imposed by US President Donald Trump are not a disaster for Ukraine. This was reported on Telegram by Ukrainian MP Yaroslav Zheleznyak. “As for the tariffs from Trump. How will they affect Ukraine? Briefly and succinctly: not much. Our exports there do not even reach a billion and 2% of everything we export anywhere,” the MP noted.

He also emphasized: “The US imports almost 3 billion to us, in fact 5 times more. That is why we received a “light” tariff of only 10%. Most of all, we exported metallurgical products, but there has already been a 25% tariff on steel and aluminum for us since March. There are also pipes, but there is also a tariff + anti-dumping. Another third of exports are agricultural and food products. But there, too, we have already expected a tariff from April.”

“Well, it’s not a disaster, especially when the conditions are worse for others (our 10% tariff is not 54% like in China). There’s a small nuance here, now the EU, China, India and others will also introduce tariffs on products from the US in response… And here a window of opportunity opens for us to enter their market),” the deputy noted.

Earlier it was reported that US President Donald Trump announced the introduction of US tariffs on products from most countries of the world.

The US President introduced at least a 10% tariff on almost all goods imported to the United States, as well as even higher tariffs for dozens of countries with the largest trade deficits in relations with the US.

The US will impose tariffs of 20% on European Union countries, 46% on Vietnam, 32% on Taiwan, 24% on Japan, 25% on South Korea, 36% on Thailand, 31% on Switzerland, 32% on Indonesia, 24% on Malaysia, 49% on Cambodia, 10% on the UK, and 30% on South Africa.

No new tariffs have been introduced for countries such as Russia and Belarus. The US has said it will not impose duties on imports of goods from Russia and Belarus because products from these countries are not supplied to the US market.

The new tariff for Ukraine will be 10% – the minimum base rate.

The same tax applies to goods from Australia, the UK, Brazil and other countries. The tariffs will take effect on April 9, 2024.

Starting on April 5, all importing countries will pay a minimum base tariff.

The 10% rate will be added to existing tariffs on goods from individual countries. For China, the total tariff will be 44% (34% + 10%). For the EU, it will be 30% (20% + 10%).

In addition, the US has imposed a 25% tariff on imported cars and parts. The 25% tariff on cars went into effect at 00:01 on April 3 (Eastern Time).

The 25% tariff on car parts went into effect at 00:01 on May 3.

The list of taxable goods includes:

• Cars and trucks.
• Dozens of spare parts (engines, transmissions, electronic components, braking systems).

The Department of Commerce will develop a procedure for expanding the list within 90 days. Vehicles that meet the requirements of the USMCA will receive a partial exemption.

To expand his own authority to impose tariffs, Trump declared a state of emergency in the US economy.

Tags: Ukraine, USA