Ukrainian Steel Supplies Exempt from Tariffs, Says Joe Biden

U.S. President Joe Biden has announced that for one year, imports of Ukrainian steel and steel products will be exempt from a 25% tariff in the American market.

He reminded that in 2021, Ukraine accounted for less than 1% of U.S. steel imports and predicted that in the context of the conflict with Russia, production and supplies will be limited.

“At the same time, the steel industry is historically important for Ukraine. The United States and Ukraine are interested in maintaining it as one of the economic pillars of the country’s recovery,” the statement from Biden reads.

The American president has instructed the Department of Commerce to monitor the situation of the Ukrainian steel industry in the U.S. market and to inform about the need for extending the tariff exemption.