US President Joe Biden has approved the cancellation of duties on steel imports from Ukraine. The duty-free imports will last for one year.
This is reported on the website of the White House.
It is reported that the U.S. and Ukraine have established a close security relationship, and the Ukrainian steel industry has been undermined by Russia's unprovoked war. At the same time, it is noted that the U.S. and Ukraine have an interest in preserving the industry as a lifeline while the country recovers.
"In light of the security discussions and the significant disruption to Ukraine's ability to produce steel, I conclude that the current situation in Ukraine represents a special case. I have decided to suspend tariffs on imports of steel products and steel derivatives from Ukraine for a period of 1 year," Biden said in a statement.
Note, we are talking about the 25% duty on Ukrainian steel, which was introduced in 2018 under the administration of Donald Trump.
Recall that the plans to cancel the import duty on Ukrainian steel in the US became known at the beginning of May.
