Tariff-free zone may be game changer for Ukraine
Witkoff believes that a duty-free zone in Ukraine will attract industry (Photo: Ludovic Marin/Pool via REUTERS)
U.S. President’s special envoy Steve Witkoff said creating a “tariff-free zone” in Ukraine could become a turning point for the country’s economy, speaking at the Ukrainian Breakfast in Davos on Jan. 22.
“Last night over dinner we spent the entire evening discussing the upward trajectory of Ukraine’s economy and financial system — capital markets, jobs. The president spoke about creating a tariff-free zone for Ukraine, which, in my view, would fundamentally change the situation,” Witkoff said.
He stressed that creating such a zone would lead to a mass relocation of industry to the region.
Witkoff said the initiative would give Ukraine a competitive advantage, as goods could be imported into the United States without tariffs.
On Jan. 21, speaking in Davos, Donald Trump said he wants to stop the war and expects to meet with his Ukrainian counterpart, Volodymyr Zelenskyy, later that day. Trump also said that reaching a peace agreement between Ukraine and Russia is now “quite close.” If Kyiv and Moscow fail to do so, “they’re fools,” he said.
Sources at NV later reported that Zelenskyy could change his decision and travel to Davos to meet Trump on Jan. 22. Axios also reported that Zelenskyy’s plans to visit Switzerland could change.
It was reported earlier today that the Ukrainian president arrived in Davos to attend the World Economic Forum, meet with Trump and take part in a panel of the International Advisory Council, where he is also expected to speak with representatives of energy companies.
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