The U.S. Department of Commerce announced on April 9, local time, that it would suspend tariffs on steel imports from Ukraine for one year.
U.S. Commerce Secretary Raimondo said in a statement that the U.S. will suspend tariffs on steel imports from Ukraine for a year to help Ukraine recover from the conflict between Russia and Ukraine. Raimondo said the move was intended to show the Ukrainian people of U.S. support.
In a statement, the U.S. Department of Commerce emphasized the importance of the steel industry to Ukraine, saying that one in every 13 people in Ukraine works in steel plants. "For steel mills to remain an economic lifeline for the Ukrainian people, they must be able to export steel," Raimondo said.
According to statistics, Ukraine is the 13th largest steel producer in the world, and 80% of the steel it produces is exported.
According to the U.S. Census Bureau, the U.S. will import about 130,000 tons of steel from Ukraine in 2021, accounting for only 0.5% of U.S. steel imports from foreign countries.
Except for the United States, the European Union recently suspended tariffs on all goods imported from Ukraine, including steel, industrial products and agricultural products.
