Passenger flow through western border of Ukraine in September 2024, thousand
US President Donald Trump has announced the introduction of large-scale duties on US imports. The tariffs are expected to affect trade volumes worth trillions of dollars.
Speaking in the Rose Garden near the White House, the US president announced “very, very good news”.
“In a few minutes, I will sign a historic executive order on reciprocal tariffs for countries around the world. Reciprocal. That means what they do to us, we’ll do to them. Very simple. It couldn’t be simpler,” Trump noted.
He criticized Thailand, India, Vietnam and other countries for unfair, in his opinion, tariff policies and tax regimes on American goods. And gave the example that the US charges only 2.4% duty on motorcycles, while India charges 70% and Vietnam 75%.
Also before signing the executive order, he went on to describe at length the “unfair tariffs” that other countries have imposed on U.S. goods. “Sometimes friends are worse than enemies,” Trump said, referring to the high tariffs that certain allied countries like Japan have imposed.
“This is one of the most important days in American history. This is our declaration of economic independence,” the US president emphasized.
“Against countries that treat us badly, we will calculate the sum of their tariffs, non-monetary barriers and other forms of fraud,” he said, explaining exactly how much ‘reciprocal tariffs’ the US will impose.
He also reiterated that the U.S. will impose 25 percent tariffs on all foreign-assembled cars at midnight April 2 to 3. And he also announced a universal or “minimum basic tariff” of 10 percent on imports.
The amount of duties by major U.S. trading partners
According to the executive order, the U.S. imposes additional duties in the amount of:
China – 34%
European Union – 20%
Vietnam – 46%
Taiwan – 32%
Japan – 24%
South Korea – 25%
Thailand – 36%
Switzerland – 31%
Indonesia – 32%
Malaysia – 24%
Cambodia – 49%
Great Britain – 10%
South Africa – 30%
Brazil – 10%
Bangladesh – 34%
Singapore – 10%
Israel – 17%
Philippines – 17%
Chile – 10%
Pakistan – 29%
Sri Lanka – 44%
The reciprocal tariffs will come into effect on April 9, 2025. And all countries will start paying the minimum base tariff on April 5.
And the base tariff of 10% will be added to the tariffs imposed against specific countries. This means, for example, that for Chinese goods the tariff will be 44% (34+10), for goods from the EU – 30% (20+10).
How the new duties were prepared
Previously, Trump and his inner circle named the European Union, Mexico, Canada, Japan, South Korea, Vietnam and India as likely targets of future duties in an effort to “punish unfair trade practices.”
According to Bloomberg, $33 trillion worth of global trade is in the crosshairs, with countries from Brazil to China facing a 4 to 90 percent drop in exports to the United States. Presumably, average duties could rise by 15%, driving up inflation and increasing the risk of a U.S. recession.
The measures taken today are in addition to steps taken since Trump took office in January. His administration has imposed an additional 20% tax on all imports from China and 25% on many goods from Mexico and Canada. There is also a global 25% tariff on steel and aluminum imports. An executive order was also signed imposing 25% duties on imports of automobiles and certain parts (effective April 3).
What the consequences could be
According to Bloomberg, under the maximum approach, average tariff rates in the U.S. would increase to 2%, which would reduce U.S. GDP by 4% and increase prices by nearly 2.5% over two to three years.
The impact on trading partners in any scenario would be severe. China, the EU, and India could top the list of countries that would be affected by the impact on exports to the US, although their economies could endure. Canada and Southeast Asian countries are likely to feel a larger overall impact.
More than 2.1 thousand declarations with cryptocurrencies were filed by Ukrainian officials in 2024. This is 2.2 times more than before the full-scale campaign. Representatives of the National Police of Ukraine are particularly active in declaring cryptocurrencies. Tether (USDT), Bitcoin (BTC, XBT), and Ethereum (ETH) remain the most popular cryptocurrencies among officials.
Ukrainian officials are increasingly mentioning cryptocurrencies in their declarations. Thus, 2113 declarations with cryptocurrency were filed by officials in 2024. This is 2.2 times more than before the full-scale campaign. The number of such declarations increased by 10% over the year.
Representatives of law enforcement agencies are particularly active in declaring cryptocurrencies. The National Police of Ukraine is the most active: 322 declarations mentioning cryptocurrency. This is 15% of all such declarants.
The prosecutor’s office is not far behind: cryptocurrency is listed in 240 declarations. Judges filed 227 such documents, and there were 119 officials with digital assets in city councils. Among the representatives of the Armed Forces, cryptocurrency was listed in 77 declarations. In another 38 cases, crypto was declared by NABU representatives.
If we look at the geography of crypto declarations, everything is more predictable. Kyiv and the region are in the lead with 582 and 185 officials with cryptocurrencies. In Kharkiv region, 172 civil servants declared crypto, and in Dnipropetrovs’k region, 167. Lviv region rounds out the top five with 133 cryptocurrency declarants.
The most frequently declared crypto-dollars are Tether (USDT) – 802 civil servants. Bitcoin (BTC, XBT), despite all the exchange rate fluctuations, consistently ranks second with 731 declarations. Ethereum (ETH) was declared by 713 officials.
The most bitcoins were declared by Oleh Bondarenko, chairman of the Verkhovna Rada Committee on Environmental Policy. He has 80 BTC on his account, which is equal to UAH 279.4 million as of April 1. The leader in the Ethereum (ETH) category is MP Serhiy Maisel, who owns 200 tokens equivalent to UAH 15.5 million. However, the record for the number of crypto dollars belongs to Vitaliy Brovko, head of a department at the Prosecutor General’s Office, who has 847,908 USDT in his declaration, which is estimated at UAH 35 million.
It is also worth noting that there are several ex-officials who could have made it to the top, but indicated that they had lost access to their crypto assets. 380.95 bitcoins – a record amount among Ukrainian officials – were reported and lost in 2021 by Roman Saramaga, Deputy Head of the State Service of Geology and Subsoil of Ukraine. This is about UAH 1.33 billion in hryvnia equivalent as of April 1, 2025.
The largest amount of ethereum – 1,800 units or more than UAH 140 million as of April 1 of this year – belongs to Ihor Osipov, a deputy of the Podil District Council of Odesa Oblast. However, in last year’s declaration, the official noted that he had lost access to his assets.
https://opendatabot.ua/analytics/crypto-2025
On Thursday, April 10, 2025, from 9:30 to 19:00, the second Eco-Industrial Parks Forum will take place in Kyiv, bringing together leading government officials, business and experts to discuss key strategies and solutions for implementing circular sustainable economy models in the context of Ukraine’s post-war recovery.
The high-level event will be held within the framework of the United Nations Industrial Development Organization (UNIDO) project “Global Eco-Industrial Parks Program II – Ukraine: National Component”, which is being implemented with the support of the Government of Switzerland through the Swiss State Secretariat for Economic Affairs (SECO) in cooperation with the Ministry of Economy of Ukraine.
The forum aims to join forces to accelerate the development of eco-industrial parks in Ukraine, which will become the driving force of the new generation economy, combining industrial development with the principles of a green economy.
The key topics of the forum will include:
Representatives of the Government of Ukraine, the Verkhovna Rada of Ukraine, the Embassy of Switzerland, UNIDO and other international organizations, as well as more than 30 leading international and Ukrainian experts and business community leaders will take part in the opening ceremony and discussion panels.
“The rebuilding of Ukraine is a chance to create a new generation economy integrated into the European economic space. Eco-industrial parks can become its driving force, combining industrial development with the principles of the circular economy. However, success depends on the right choice of models and policies, and this is a common challenge for government and business. Only joint efforts will contribute to the creation of industrial ecosystems that will become engines of sustainable growth,” said UNIDO’s Industrial Development Coordinator Christian Susan.
The forum will provide an opportunity to network with key stakeholders who shape the future of sustainable industrial development in Ukraine. The forum will also feature an award ceremony for the most successful eco-industrial parks in Ukraine 2025.
To register for the forum as a media representative, please follow the link: https://forms.gle/WS6Hhks5Gm1qyaDfA
To register as a forum participant: bit.ly/4c3kIsw
Registration is open until 12:00 on April 7, 2024. Upon completion of the registration, registered media representatives will receive a confirmation of registration with the location of the forum and details of the form.
For more information, please contact: office@conferexpo.com or call +380976844142
For reference:
The GEIPP Ukraine project is part of the Global Eco-Industrial Parks Program (GEIPP), which is implemented by UNIDO in seven countries and funded by the Government of Switzerland through the State Secretariat for Economic Affairs (SECO). The main beneficiary of the project is the Ministry of Economy of Ukraine. The project started in 2020.
The main goal of the project is to demonstrate the viability and benefits of eco-industrial park (EIP) model approaches to increase resource productivity and improve economic, environmental, and social performance of businesses, thus contributing to inclusive and sustainable industrial development in Ukraine.
More about the project can be found here: https://geipp-ukraine.org/
Interfax-Ukraine is a media partner
US cryptocurrency company Circle has filed for an IPO on the New York Stock Exchange (NYSE), according to documents on the US Securities and Exchange Commission (SEC) website. JPMorgan Chase and Citigroup are the lead underwriters of the offering, and Circle’s shares will trade under the ticker “CRCL.”
According to unofficial reports cited by CNBC, the company expects a valuation of up to $5 billion.
This is its second attempt to go public. In late 2022, amid regulatory concerns, it declined to go public through a merger with SPAC (Specialized Mergers and Acquisitions Company) investor Bob Diamond’s Concord Acquisition Corp. At the time, the terms of the deal implied a $9 billion valuation for Circle, the Financial Times noted.
Circle’s revenue rose to $1.68 billion in 2024 from $1.45 billion the year before and $772 million two years earlier. Net income fell to about $156 million last year from $268 million the year before.
Circle was founded in 2013. The company initially focused on products to facilitate cryptocurrency payments. In 2018, it partnered with cryptocurrency exchange Coinbase to launch the Center Consortium project to create a stablecoin (stablecoin is a generic name for cryptocurrencies that are backed by national currencies and assets) USD Coin (USDC) and build infrastructure for related services.
USDC is pegged to the U.S. dollar at a 1:1 exchange rate and is backed by cash and short-term obligations of the U.S. Treasury. It is the second most capitalized steiblcoin in the world ($60 billion, or 26% of all steiblcoin capitalization) after Tether (67%). At the same time, its capitalization jumped by 36% this year against the growth of 5% for Tether.
If the IPO is successful, Circle will become one of the leading U.S.-listed issuers with businesses centered on cryptocurrencies, CNBC writes. Coinbase went public in 2021 and has a market value of about $44 billion.
In March, Ukraine exported 1.1 million tons of wheat, which is one of the highest monthly figures of the current season, in April, the volume of supplies may be slightly lower, but still remain at a high level, according to the analytical cooperative “Start”, created within the framework of the All-Ukrainian Agrarian Council.
“For April, 850 thousand tons of wheat have already been contracted, and the total monthly exports may reach 1 million tons. Despite the general stagnation of demand in the European market, Ukrainian grain is finding its buyers, particularly in Egypt,” analysts said.
However, according to experts, the situation is less optimistic from the price point of view. The main export destinations for Ukrainian wheat – Italy, Spain, and the Netherlands – remain passive in terms of new purchases, and the reintroduction of duties on Ukrainian grain to the EU in June may further complicate access to the European market.
“There is no positive news for the wheat price so far. The stock market has been sinking in recent weeks, and we see a serious gap between the physical market and stock exchange quotes. While the FOB price in Ukraine is currently $60 per ton higher than in Chicago, by June-July the markets usually synchronize. This means that the Ukrainian physical price may sink, especially as the new harvest approaches,” Pusk commented.
According to analysts, the conditional average price for wheat of the 2nd class of the new harvest for July is forecasted at $190-200 per ton on a CPT-port basis, while currently this figure is fixed at $210-215. The potential decline could be up to $20 per ton.
“If you have the opportunity, you should not rush to sell. Historically, in July-August, the market is saturated with wheat from all major exporting countries – Ukraine, Russia, Romania, and the US – and even with a deficit balance, the price usually falls. At the same time, the seasonal model shows that from October to December, the price may rise to $220-235 per ton on a CPT-port basis. Therefore, if the financial cushion allows, it is worth considering postponing sales,” the analysts added.
They stated that flour mills are currently offering the best prices on the domestic market – 10500-11000 UAH/ton for 2-3 grade wheat.
“Given the sluggish export demand, this may be a more profitable solution for farmers,” Pusk believes.
