US suspends tariffs on steel imports from Ukraine

On May 9, the US suspended for one year its 25 percent Section 232 tariffs on steel imports from Ukraine, noting the industry's importance to Ukraine's economy as the country continues to defend itself against Russia.

"We need to enlist their support and support one of the most important industries for Ukraine's economic well-being," Commerce Minister Gina Raimondo said in a statement announcing the suspension of tariffs. “For steel mills to continue to be a source of economic life 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,” she added.

According to Commerce, every 13th Ukrainian works in the steel industry in Ukraine.

Similarly, the European Commission proposed on April 27 to suspend import duties on all Ukrainian exports to the EU for one year, according to a statement on its website. However, there has been no official move yet.

Steel production in Ukraine in 2021 increased by 3.6% year-on-year to 21.4 million tons, according to the country's steel industry association Ukrmetallurgprom.

Previously, the United States did not import a significant amount of steel from Ukraine. Steel imports from Ukraine totaled 130,636 tons in 2021, less than 1% of total US steel imports of 28.58 million tons in the same year.

Since 2010, the highest annual volume of US steel imports from Ukraine in 2011 reached 325,391 tons.