EconomyPolitics How will US tariffs have an effect on Ukrainian exporters? Friday, April 11, 2025

Deputy Minister of Financial system Taras Kachka stated: “The US is projected to obtain $870M in Ukrainian exports in 2024, which is a rise in comparison with 2023. About 41% of our exports to the US final 12 months consisted of forged iron.”

Kachka doesn’t rule out the chance that Ukraine might export extra forged iron if US metal manufacturing rises in response to the tariffs which were imposed. He defined that the codes included within the metal proclamation, which got here into impact on March 12, are topic to a 25% tariff for home metallurgists and will not be topic to the extra 10% tariff launched in April.

Ukraine additionally provides sunflower oil and honey to the US. Final 12 months, sunflower oil exports totaled $40M and honey exports have been $20M, accounting for 16% of whole honey exports. The official believes that because of the elevated duties on palm oil from Indonesia and Malaysia, Ukrainian sunflower oil might even see extra demand within the US market. As nicely, the US has positioned larger tariffs on China, the world’s largest honey provider, than these utilized to Ukraine.

Nevertheless, it’s anticipated that small and medium-sized companies, in addition to Ukrainian pipe producers, stands out as the most affected by the duties.