For Ukraine, the predominant negative consequence of the global trade war may be lower volumes of macro-financial assistance from European partners economically weakened by tariffs. In addition, Ukrainian exports will be suppressed by lower global prices for raw materials, primarily for products from the mining and metallurgical industry. At the same time, prices for hydrocarbons will decrease, which will ease the import burden.
And additional opportunities may open up for Ukrainian exporters of agricultural products. Ukrainians will not feel any significant changes in the domestic market, because the country’s largest trading partners are the EU and China, not the US.
In turn, Trade Representative of Ukraine Taras Kachka says that Ukraine is ready to zero out tariffs on goods from the US. He believes that Ukraine should avoid escalation with the US and refrain from taking measures in response to American tariffs.