The UK government has announced that it has extended tariff-free trade on the majority of goods, including steel, imported from Ukraine for an additional five years until 2029 to support Ukraine’s long-term economic recovery from the ongoing war with Russia. The suspension of the safeguard measures was due to expire in March 2024.
The extension decision means that Ukraine will not be subject to the additional safeguard quotas and duty for another five years. Ukraine has also agreed to match the UK’s approach, meaning the UK’s businesses can also benefit from tariff-free exports to Ukraine.
In 2022, the UK suspended the safeguard measures for steel from Ukraine, reducing all tariffs under the UK-Ukraine free trade agreement to zero to support Ukraine’s economy during the war, as SteelOrbis previously reported.