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The Ukrainian side will continue its active collaboration with partners to find the best possible solution for the metallurgical industry before the U.S. tariffs come into effect, reported First Deputy Prime Minister - Minister of Economy Yulia Svyrydenko.
"We have made every effort to keep Ukrainian steel exempt from the 25% tariffs in the U.S. The U.S. decision to impose duties on our steel starting March 12 will understandably impact the metallurgical sector, which has already suffered from Russian aggression. However, we are committed to working closely with our partners to find an optimal solution before March 12," Svyrydenko wrote on social media platform X.
In her Facebook post, Svyrydenko added that the export of metallurgical products accounted for 57.9% of Ukraine's total exports to the U.S. - $503.3 million out of $869.1 million. The largest export items were pig iron ($363.4 million, 940 thousand tons), pipes ($112.9 million, 92 thousand tons), rods ($15.2 million, 3.3 thousand tons), wire ($4 million, 3.9 thousand tons), and metal constructions ($1.3 million, 182 tons).
"At the same time, as noted in Trump's own proclamation, the share of Ukrainian products in U.S. steel imports is minimal and does not significantly affect American manufacturers. The largest exporters of these products are 'ArcelorMittal Kryvyi Rih' and 'Interpipe.' These companies have been severely affected by the war, just like the entire metallurgical sector," stated the First Deputy Prime Minister - Minister of Economy.
As reported, U.S. President Donald Trump signed a decree on Tuesday to impose additional tariffs of 25% on all imported steel and aluminum.
According to data from the State Statistics Service, over the first 11 months of 2024, Ukraine exported black metals and products made from them, as well as aluminum, to the U.S. totaling $441.86 million, which is 2.7 times more than in the same period in 2023. In contrast, imports of these products from the U.S. to Ukraine were significantly lower at $45.11 million, although this figure has increased 2.8 times compared to the same period in 2023.
Of the total exports to the U.S. from January to November last year, black metals (code 72) accounted for $332.02 million (an increase of 6.7 times), products made from black metals (code 73) were $107.24 million (a decrease of 6%), and aluminum and products made from it (code 76) were $2.60 million (a twofold increase).
The State Statistics Service specifies that the main export of black metals to the U.S. from Ukraine is pig iron - 824.2 thousand tons valued at $317.64 million.
According to statistics released by the State Customs Service (SCS), the U.S. accounted for 70.52% of all pig iron exports from Ukraine.
As reported, U.S. President Donald Trump signed a decree to impose additional tariffs of 25% on all imported steel and aluminum, as broadcasted by Fox News. "It is important for our country to have steel and aluminum produced on our territory. We are talking about 25% tariffs, with no exceptions, regardless of the countries involved," he stated.
Canada is the largest supplier of steel to the U.S., followed by Brazil, Mexico, South Korea, and Vietnam.
As noted by NBC, while the steel and aluminum tariffs that Trump implemented during his first administration were "justified by national security concerns, this time (...) Trump cited the need to create jobs and reduce the U.S. trade deficit."