US President Donald Trump signed an order stating that as of June 4, tariffs on imports of steel and aluminum to the United States will double from 25% to 50%. This move, as noted in the document, aims to regulate the volumes of metal product imports and their derivatives, as well as to eliminate threats to the national security of the country.
This is reported by Finway
Ukraine’s Position and Possible Consequences for the Metallurgy
Until March 2025, when the 25% tariffs on steel and steel products came into effect, Ukraine had a temporary exemption from tariffs granted by the Biden administration. However, now Ukrainian exporters find themselves in less favorable conditions.
The Ministry of Economy of Ukraine stated that the introduction of tariffs will negatively affect the Ukrainian metallurgy industry.
According to last year’s data, the volumes of foreign trade between Ukraine and the US remain relatively small. The share of the US in the structure of Ukrainian exports was only 2.1%, equivalent to $869 million, while in the structure of imports it was 4.9%, or $3.4 billion.
Barriers for Ukrainian Exporters
Experts emphasize that Ukrainian goods have weak representation in the American market due to difficult access, fierce competition, and high logistics costs. The new increased tariffs may further complicate the positions of domestic metal producers in the US.