ISTANBUL

The European Business Association (EBA) said Friday that some Ukrainian steel producers may leave the US market following President Donald Trump’s decision to impose a new 10% tariff starting April 5, 2025.

“The return of the 25% duty under the Trump administration, combined with anti-dumping duties and a new 10% tariff, could be painful for Ukrainian manufacturers,” EBA Deputy Director Svitlana Mykhailovska told Interfax-Ukraine.

She noted that the US market became attractive after the Joe Biden administration removed the 25% duty, but the new policy could force companies to exit, while redirecting exports to other regions may be difficult due to rising competition.

The EBA also warned that if the EU ends preferential treatment for Ukrainian producers, the impact could worsen.

“Our business community hopes for consensus in talks with both US and EU partners to minimize negative consequences,” Mykhailovska added.

According to the White House, Trump invoked the 1977 International Emergency Economic Powers Act to introduce the new tariff, which excludes Russia without explanation.