Ukraine seeks free trade agreement with US to eliminate tariffs

Ukraine is actively pursuing the conclusion of a free trade agreement (FTA) with the United States, aiming for the mutual elimination of tariffs.

Ukrainian Deputy Economy Minister Taras Kachka confirmed that negotiations on this matter could be resumed, following multiple proposals made by Ukraine to the US over the years, Caliber.Az reports via Russian media.

According to Kachka, Ukraine has been advocating for a free trade agreement with the US for several years, stressing the importance of a comprehensive waiver of tariff restrictions. He pointed out that the value of imports from the US significantly surpasses Ukraine's exports to the US, making the removal of duties a crucial step for boosting Ukraine’s economic growth.

Kachka further explained that if the conditions outlined in the proclamation—regarding the reduction of duties—are met, Ukraine would formally present a proposal for a zero-duty agreement. "If the thesis written in the proclamation is justified, then we will come out with such a proposal, and we are set on it," he affirmed.

The Ukrainian government views the potential FTA as a significant opportunity to enhance trade relations with the US, fostering deeper economic cooperation and improving Ukraine’s competitiveness in global markets.

On April 2, Trump announced a blanket tariff of 10 per cent on all imported goods, with certain countries and entities facing even stricter duties. The list of affected regions includes 185 countries, such as the United Kingdom, Ukraine, and even remote, uninhabited islands that are home only to penguins.

Earlier, Ukraine's parliament, the Rada, responded to the duties imposed by Trump, expressing concern over the impact on bilateral trade.

By Vafa Guliyeva