11 Feb, 11:19

Trump’s steel duties to cost Ukraine $125.6 mln

The largest exports are steel billets and rolled products, while the share of aluminum is negligible

MOSCOW, February 11. /TASS/. Ukrainian steel producers may lose about $125.6 million (over 5 billion hryvnias), if US President Donald Trump imposes 25% duties on its steel and aluminum, TASS calculated.

According to Ukraine’s Economy Ministry, metal exports to the United States total $503.3 million per year, or 57.9% of all exports of Ukrainian products to the United States. The primary exporters are Arcelormittal Kryvyi Rih and Interpipe. The largest exports are steel billets and rolled products, while the share of aluminum is negligible ($2.6 million per year).

On February 10, Trump imposed 25% tariffs on all steel and aluminum imports. Former president Joe Biden exempted Ukrainian steel exports from the duties in 2022.

Ukrainian Economy Minister Yuliya Sviridenko said earlier that Kiev would seek an "optimal solution" with the United States on the issue of duties. However, Trump said he did not intend to make any exceptions.

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