The Minister of Trade of the United States of America Gina Raimondo announced the suspension of duties on Ukrainian steel for a period of one year. This is a 25% duty on metallurgical products, which was introduced by the United States in 2018. The duty-free regime for Ukrainian steel in the United States will last 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 industry in our country. In order to stabilize its work in the face of Russia’s military aggression, it is important to provide opportunities for the export of steel and steel products. The abolition of US tariffs will create additional export opportunities for Ukraine, and thus provide Ukrainian companies with orders, Ukrainians – jobs.
“The abolition of these duties will be a turning point in trade relations between Ukraine and the United States. This is an important signal for Ukrainian producers about the readiness of the US government to support the economic stability of our country by including Ukrainian metallurgical products in its production processes,” said Yulia Svyridenko, First Deputy Prime Minister – Minister of Economy of Ukraine.
In 2021, exports of Ukrainian metallurgical products to the United States increased significantly. Last year, Ukraine delivered 428.9 thousand tons (compared to 359 thousand tons in 2020). Exports of ferrous metals also increased from 44.7 thousand tons in 2020 to 119.8 thousand tons in 2021.
Read more about the investment and trade partnership of the United States and Dnipropetrovsk region at the link.
Source: Ministry of Economy of Ukraine