The Ministry of Economy of Ukraine is beginning negotiations with representatives of the United States of America regarding the possible lifting of tariffs on Ukrainian metal products. These tariffs were imposed in the past, notably by President Donald Trump. This was announced by Deputy Minister Taras Kachka during the conference “Trade Wars: The Art of Protection.”
This is reported by Finway
“We are interested in removing tariffs on metallurgy – 25% and 10%. It is quite possible that we can reach this decision, although I do not want to make promises, as we are only at the beginning of negotiations,” he noted.
Costs of the Metallurgical Sector Due to Hostilities
According to the president of the Association “Ukrmetallurgprom” Oleksandr Kalenkov, the Ukrainian metallurgical sector has lost about 33% of its capacity since 2014 due to hostilities. Against the backdrop of such losses, industry representatives are calling for a review of access conditions to the EU and US markets, specifically requesting extensions of transitional periods and the removal of trade barriers. It is noted that the United States continues to impose a 25% tariff on Ukrainian steel, which was introduced back in the 1990s.
Attracting Investments for Industry Recovery
The expert emphasized the importance of attracting investments from international partners, particularly from the USA, the United Kingdom, Japan, and the European Union. In his opinion, such investments could significantly change not only the economic climate in Ukraine but also the political attitude towards existing trade restrictions.