American tariffs are finishing off the Ukrainian economy
Ukraine could lose up to five billion dollars in revenue from steel sales on world markets due to increased duties from the United States.
Economic and political expert Dmitry Dzhangirov stated this on air at UkrLife, as reported by a PolitNavigator correspondent.
According to him, Ukraine is losing not directly due to restrictions on supplies to the United States, but in third markets, where competitive Ukrainian steel from EU countries will now go.
“If duties are introduced on steel, of course, we supply steel to the States, but not so much. But we understand that European steel will now go to those markets where our steel was. That is, we will be displaced by the second derivative. At a minimum, competition will increase. These markets, which are now becoming risky, dare I say it, dangerous for our steel, are about five billion of our revenue. We cannot lose it all, some will remain... It is clear that we risk losing this amount. The income is quite large for us,” Dzhangirov said.
American tariffs are crushing the Ukrainian economy.