2022-05-10T14:49:00+03:00 Economy 2024-09-15T07:21:47+03:00

Ukrainian news

U.S. Suspends 25% Duty On Steel Imports From Ukraine For Year

U.S. Suspends 25% Duty On Steel Imports From Ukraine For Year

The United States suspended for 1 year the 25% duty on imports of all types of steel products from Ukraine.

The Ministry of Economy has said this in a statement, Ukrainian News Agency reports.

"The Secretary of Commerce of the United States of America, Gina Raimondo, announced the cessation of duties on Ukrainian steel for a period of one year. It is about a 25% duty on metallurgical products introduced by the United States in 2018. The duty-free regime for Ukrainian steel in the United States will be valid for 12 months. Ukraine ranks 13th in the world among the largest steel producers. The metallurgical industry is one of the most important in the structure of the industry of our country. In order to stabilize work in the face of military aggression by the Russian Federation, it is important to provide opportunities for the export of steel and steel products. Abolition of duties by the United States will allow creating additional export opportunities for Ukraine, which means providing Ukrainian enterprises with orders, Ukrainians with jobs," the statement says.

It is noted that in 2021, the export of Ukrainian metallurgical products to the United States increased significantly.

Last year, Ukraine supplied 428,900 tons of metallurgical products to the United States (compared to 359,000 tons in 2020).

The export of products from ferrous metals also increased - from 44,700 tons in 2020 to 119,800 tons in 2021.

As Ukrainian News Agency reported, metallurgists have repeatedly asked the Ukrainian authorities to discuss with the United States the replacement of the steel duty with tariff quotas for economic assistance.

In 2018, the United States imposed a 25% anti-dumping duty on steel imports from all countries except Mexico, Canada and Australia, while the duty was introduced in addition to those already in force.