Ukraine warns EU: Trade tensions could spark retaliation
Ukrainian Deputy Minister of Economy, Taras Kachka, warns the European Union about potential trade consequences if relations with Kyiv are not correctly organized. Otherwise, retaliation should be expected.
Ukrainian Deputy Minister of Economy, Taras Kachka, expressed dissatisfaction with the slow pace of talks regarding the extension of Ukraine's duty-free access to the EU market. According to "Politico," Kachka suggested that Ukraine is prepared for retaliation if certain countries, including Poland, Slovakia, and Hungary, continue to block negotiations.
Ukraine ready for retaliatory actions
Kachka emphasized that the lack of progress in the talks might compel Ukraine to take steps to balance the trade relationship.
"These decisions will be the least pleasant for the countries currently politically slowing down the free trade negotiations," Kachka said during a public appearance.
According to "Politico," Ukraine imports more from the EU than it exports, resulting in a trade surplus favoring the Union. The Deputy Minister noted that any trade conflict could hurt European businesses more than Ukrainian ones, as European exporters sell more goods to Ukraine than imports from it.
Controversial statements by Kachka
Taras Kachka previously threatened to sue Poland in the World Trade Organization over its embargo on Ukrainian grain. Jacek Zarzecki of the Polish Sustainable Beef Platform commented that Kachka "confused courage with weights." The Deputy Minister also suggested that aggressive actions might be taken against Polish carriers.
"Politico" reminds readers that the EU is the largest recipient of agri-food products from Ukraine, complicating matters further. The value of these products is about 12.51 billion dollars, with a trade surplus of 8.85 billion dollars in favor of Ukraine. Kachka emphasizes that Europe benefits more from trade with Ukraine than vice versa.
