On May 9, the US suspended its 25 percent Section 232 tariffs on steel imports from Ukraine for one year, noting the industry's importance to its economy.
"We need to enlist their support and support one of the most important industries for the economic well-being of Ukraine" - announces Minister of Commerce Gina Raimondo announcing the suspension of tariffs.
For steel mills to continue to be an economic lifeline for the people of Ukraine, they must be able to export their steel. Today's announcement is a signal to the Ukrainian people that we are committed to helping them thrive in the face of Putin's aggression and that their work will make Ukraine stronger today and in the future," she added.
According to the US Department of Commerce, one in 13 Ukrainians work in the steel industry.
The US decision to abolish duties on imports of Ukrainian steel for a year is a positive signal, said Ukrainian Prime Minister Denys Shmigal. “We discussed this issue with Gina Raimondo in April during a meeting in Washington and within a few weeks we received a positive signal,” he said.
Earlier on April 27, the European Commission proposed to suspend import duties on all Ukrainian exports for one year. However, no official decision has yet been made.
Steel production in Ukraine in 2021 increased by 3.6% year-on-year to 21.4 million tons.
The US has never imported any significant amount of steel from Ukraine. For all of 2021, steel shipments from Ukraine totaled 130,000 tons, less than 1% of total U.S. steel imports of 28.58 million tons in the same year.
The largest volume of Ukrainian steel imports to the United States was registered in 2011 and amounted to 325 thousand tons.