Ukraine to lose billions due to US tariffs on steel

US trade restrictions to hit Ukrainian metallurgy

The situation in the Ukrainian metallurgical market is complicated not only by the war but also by external economic factors. The 25 per cent tariffs introduced by the US on steel and aluminium imports will place significant pressure on the industry.

Ukrainian officials and business representatives have expressed concern over Washington’s decision, as local metallurgy is already facing significant difficulties.

Billions in losses for the economy

According to the Ukrainian Steel Association, if the new tariffs come into force on 12 March, Ukrainian industry will lose 2.4 billion hryvnia ($58 million) in revenue. For the country’s budget, this will result in a reduction of tax receipts by approximately 1 billion hryvnia ($24 million) per year.

Such measures could significantly weaken the competitiveness of Ukrainian products in international markets and put thousands of jobs in the industry at risk.