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US Imposes New Tariffs: Ukraine Included, Russia Omitted
Trump Declares Economic Emergency Amid Trade Deficit, Launches Import Tariffs
The United States has declared a state of economic emergency due to a sharp rise in its trade deficit, which reached $918 billion in 2024. Former President Donald Trump labeled the situation a threat to national security and announced new tariffs on imports from several countries. Notably, a 10% tariff will apply to goods from Ukraine. Russia, Belarus, Mexico, Canada, and Iran were not included in the published list.
Trump emphasized that the growing trade imbalance is undermining the US economy, holding back income growth, and harming domestic manufacturing. He accused US trade partners of applying unfair tariff policies that reduce American competitiveness. The new measures are seen as the beginning of a comprehensive overhaul of trade relations with foreign countries.
While announcing the state of emergency, Trump stated that the threat is “external, not internal.” He called for an urgent rebalancing of exports and imports, stressing that the US can no longer afford to depend on foreign supply chains while domestic demand stagnates. The tariffs are expected to target a wide range of goods, including industrial, agricultural, and high-tech products.
The decision has already sparked concern among US trade partners and financial markets. Analysts warn this could mark the start of a new phase of global trade wars. The possibility of retaliatory actions from countries not included on the tariff list remains high. Tighter trade conditions may disrupt global supply chains and increase prices for imported goods within the US.
Ukraine, now subject to the new 10% tariff, could face a decline in export volumes to the US. Though the tariff level is relatively moderate, the move could affect investment expectations and the country’s broader foreign economic strategy. Ukrainian officials have yet to issue a public response.
Russia’s absence from the list has drawn particular attention. Despite ongoing geopolitical tensions and sanctions, Trump did not include Russia, sparking speculation over potential political motivations. Likewise, Mexico, Canada, and Belarus were also excluded, despite their central roles in trade relations with the US.
According to Trump, the announced measures are part of a broader strategy to protect American industry and restore economic sovereignty. Additional actions may follow, including the revision of existing trade agreements and stricter oversight of international economic transactions.
Markets responded swiftly to Trump’s statements: the US dollar index rose, while commodity and industrial markets experienced increased volatility. The scope and long-term consequences of the new tariffs remain uncertain. Experts caution that weakening global demand and heightened trade tensions may follow.
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