By raising tariffs for many countries, US President Donald Trump has caused a slowdown in economic development, which will also affect Europe and Ukraine.
People's Deputy Yaroslav Zheleznyak said this in his video blog.
" I'm absolutely convinced that yesterday you were bombarded with a lot of news about the collapse of the markets - recession and the financial crisis in general... So, I've calmly analyzed for you what is true and what is just a myth ," the deputy noted.
He advises "not to run around changing all your dollars into pounds."
" Donald Trump caused a global recession by raising tariffs to 50%. The economic slowdown will also affect Europe, with which Ukraine actively trades. This may cause unemployment and inflation in the country. After all, the volume of Ukraine's export GDP is about 45% ," Zheleznyak notes.
He decided to try to answer Ukrainians whether these processes mean the final loss of markets for Ukraine and what Ukrainians who save pennies can expect.
In particular, Zheleznyak says that in the short term, the recession will not affect Ukraine in any way.
" I would like to remind you that we have a fairly small trade with the United States. Accordingly, if the problem were their recession, let's say, their problems, we are not financially dependent on them. They are not giving us money now, all the money they are giving has already been transferred to the World Bank, so we should not expect any significant problems here for us ," the People's Deputy believes.
" What could be a problem? The problem could be that this will spill over to other markets, for example, the European Union or Asian markets. We, as a country, are export-oriented, that is, we mainly export 40 or 45% of our GDP, and accordingly, when in our markets that we trade, we trade mostly with Europe, with China, with Turkey, with this entire region, accordingly, if our economy falls there, they will buy less of our products, and we will earn less. This is a problem in a certain way, not that, again, it is very critical, but it would be desirable to earn more. At the same time, let me remind you that in the USA, to put it mildly, it does not contribute to their goods being sold in the markets of Europe and Asia. Accordingly, a certain niche is being freed up for us, our corn can replace this niche, like many other goods, so perhaps even for us it " There will be a certain window of opportunity ," says Zheleznyak.
As Apostrophe reported, oil prices continue to fall amid Trump's decisions.