Unlock the White House View Newspaper FREE
Your guide to what the 2024 American elections mean for Washington and the world
The writer is the secretary of the American Treasury
While much reported about the economic partnership that President Donald Trump has proposed to his Ukrainian counterpart, Volodymyr Zelenskyy, has a great deal of work that has been abused or simply wrong. So, I welcome this opportunity to clarify how this partnership benefits from our nations.
Without the support of the United States and the American people, the position of Ukraine today would be dangerous at best. The support of the US has enabled historical and bold protection from the Ukrainian people, and as a result, we are now on the verge of a peace agreement for Ukraine and a renovation of stability in Europe.
As previously reported, Zelenskyy proposed to give the US an action on the rare elements of Earth in Ukraine and critical minerals for a visit to Trump Tower in September. In other words, it was the Ukrainian President himself who first proposed to President Trump a future, economic partnership with common benefits for both nations.
We know that Ukraine’s economic future in a time of peace may be more prosperous than at any other point in the country’s history, and a partnership with Americans will provide its prosperity. President Zelenskyy recognizes this and so does President Trump. With these facts in mind, I traveled to Kyiv on my first international visit as a Treasury Secretary with a proposal that demonstrates our long-term commitment to a free and secure Ukraine-a deal focused on the country’s economic growth.
This partnership will support the US continued commitment to Ukraine people, and will determine the foundations for a strong reconstruction of the Ukraine economy. While asset prices may be unclear, Ukraine’s debt has been trading news, signaling that Ukrainian creditors and financial markets evaluate the benefits of economic partnership.
The Ukrainian people have demonstrated extraordinary bravery and resistance. They deserve to enjoy the benefits of the freedom they have fought so heroically. Ukraine is equipped with natural resources and other national assets that can direct its post -war economic growth, but only if the government and its people are armed with sufficient capital, expertise and proper incentives.
Our partnership conditions propose that the income received by the Ukrainian government from natural resources, infrastructure and other assets are divided into a fund focused on the long -term reconstruction and development of Ukraine, where the US will have economic rights and governance In those future investments. This structure and relationships bring about the high standards of transparency, accountability, corporate governance and legal frameworks needed to attract strong private investment for post -war growth in Ukraine.
US inclusion would not leave room for corruption and internal agreements. When I was in this, I met many US companies that have been on the ground in Ukraine for years. And I have spoken with many more that they are willing to support Ukraine’s economy through righteous and sustainable peace. The conditions of this partnership will mobilize American talent, capital and high standards and governance to accelerate Ukraine recovery and sends a clear message to Russia that the US has been invested in a free and prosperous Ukraine for a long term .
The US is a sustainable and long -term partner in this relationship. Income from future revenue streams will be reinvested again in the main sectors focused on unlocking more Ukraine growth assets. The conditions of this agreement will also ensure that countries that do not contribute to the protection of Ukrainian sovereignty will not be able to benefit from its reconstruction or these investments.
The US has always been creative in finding ways to better support its partners. In 1942, the US and the United Kingdom agreed to “promote favorable economic relations between them and the improvement of economic relations around the world”, based on the exchange of destroyers for Caribbean base rights. This provision of thought before helped to lay the financial foundations for the unprecedented economic growth experienced over the past 80 years.
In a similar way, President Trump’s innovative approach represents a new model for international productive partnerships. Let us also be clear what this is not. The US would not assume ownership of physical assets in Ukraine. Nor would it be extinguishing Ukraine with more debt. This type of economic pressure, while being determined by other global actors, would not progress to American interests and askraina. To create more value for the long run, the US should be invested together with Ukraine people so that both parties can be stimulated to gain as much as possible.
Ukraine’s close neighbor, Poland, has shown what is possible. Through sound economic policies and a diverse economy, Poland has been an attractive trade and investment partner for the US since 1992, Poland’s economy in true GDP terms has tripled in size while per capita income Its citizens are more than seven times higher today than they were then. The success Poland has seen from structural reforms, infrastructure investments, attracting foreign investment and developing a skilled workforce provides a clear observation of what Ukraine can achieve. Its strategic location, diligent population and natural resources are a solid foundation for the aspirations of the Ukrainian people.
President Trump’s proposed partnership approximates the interest of the American people with those of Ukraine people. The president recognizes that national security is built along with economic security, and the most successful and secure post -war Ukraine is, the more Ukrainian and US people will benefit. This economic partnership would be the foundation for sustainable peace by sending a clear signal to the American people, the people of Ukraine and the Russian government for the importance of Ukrainian sovereignty and future success in the US
