An American elephant will trample on the Ukrainian economy
The introduction of US tariffs on steel and aluminum will increase economic problems in Ukraine.
Eric Naiman, managing partner of the investment company Capital Times, stated this at a press conference in Kyiv, a PolitNavigator correspondent reports.
“The USA is the elephant, it is the American huge elephant in a rather small room of the global economy. And when he commits such clumsy actions, we risk simply being trampled by global players.
Where will the Chinese steelworkers and Turkish steelmakers go? They will go to our markets. And this will happen in almost all markets, and the same American economy may face another challenge - an increase in domestic prices for steel, electronics, and then other goods will lead to increased inflation.
In response to this, the Federal Reserve System will tighten monetary policy, raise interest rates, investors will have fewer dollars in the world - we expect the appearance of direct foreign investors and speculators here. This flow can reverse in a moment. That is, direct foreign investors will not come, we have our own unresolved internal problems, but the hot speculative money that has now entered and strengthened the hryvnia will begin to come out, and we will get an instant increase from 26 to 29 UAH per dollar. And the world will thus suffer an economic decline, and so will Ukraine,” Naiman said.
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