Ukraine steel gets green light

Ukraine steel gets green light

The U.S. Commerce Department has lifted a prior tariff on steel made in Ukraine.

Subscribe

United States Secretary of Commerce Gina M. Raimondo has announced the U.S. will temporarily be suspending Section 232 tariffs on Ukrainian steel, initially for one year. “Ukraine’s steel industry is uniquely important to the country’s economic strength, employing one in 13 Ukrainians with good-paying jobs,” the department says.

“Steelworkers are among the world’s most resilient—whether they live in Youngstown or Mariupol,” Raimondo says. “We can’t just admire the fortitude and spirit of the Ukrainian people—we need to have their backs and support one of the most important industries to Ukraine’s economic well-being. For steel mills to continue as an economic lifeline 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, and that their work will create a stronger Ukraine, both today and in the future."

The department says some of Ukraine’s largest steel communities have been among those hardest hit by the Russian invasion, and the steel mill in Mariupol has become “a lasting symbol of Ukraine’s determination to resist Russia’s aggression.” The department says despite nearby fighting, some Ukrainian mills have started producing again.

The department says that creating export opportunities for steel mills “is essential to their ability to continue employing their workers and maintaining one of Ukraine’s most important industries.”

Raimondo adds, “I want to thank President [Joe] Biden for his leadership in directing us to do all we can to support Ukraine’s people and their economy, as well as the Ukrainian leaders I have had a chance to work with over the past two months. Ukraine’s diplomatic leaders have been essential partners and advocates for their people, and we will continue to do all we can to support their work toward peace, freedom and prosperity.”