US: Tariffs on Ukrainian steel suspended for one year

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The United States decided to suspend duties in Ukrainian steel cfor a year to support the country’s exports affected by the Russian invasion, the US Department of Commerce announced today.

“The Ukrainian steel industry is particularly important for the country’s economic strength, as it employs 1 in 13 Ukrainians with well-paid jobs,” the ministry said in a statement.

“Some of Ukraine’s largest steel communities have been hit hardest by (Vladimir) Putin’s barbarism, and the Mariupol steel plant has become a symbol of Ukraine’s determination to resist Russian aggression,” he added.

The ministry notes that many Ukrainian steel mills “continued to pay, feed and even protect their employees during the fighting.”

As some Ukrainian factories have resumed production, export support is needed to maintain one of Ukraine’s most important industries, according to the Biden administration.

“We can not just admire the courage and spirit of the Ukrainian people,” US Commerce Secretary Gina Raimondo said in a statement.

“We must support it and support one of the most important industries for Ukraine’s economic prosperity.”

“Today’s announcement is a message to the people of Ukraine that we are determined to help them thrive in the face of Putin’s aggression,” he said.

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