The Ukrainian government has decided to cancel the 13 percent extra duty on imports of several products, including pig iron and steel products under 7201 and 7301 HS Codes, excepting cars and refrigerators.
According to Ukraine's Prime Minister Yulia Tymoshenko, the 13 percent extra duty is without basis, is against World Trade Organization (WTO) terms and can complicate Ukraine's relations with other member countries of the WTO. Moreover, according to Prime Minister Tymoshenko, the government had received a number of inquiries from diplomatic representatives from various countries who expressed dissatisfaction with the duty. "The exchange rate has already adjusted exports and imports, and another 13 percent is unnecessary," Tymoshenko said.
As SteelOrbis previously reported, the new law entitled "On Amendments to Certain Laws of Ukraine with the Aim of Improving the State of Ukraine's Balance of Payments in Connection with the Global Financial Crisis" was signed by the Ukrainian president and was officially published on February 24, 2009, and was supposed to come into effect 10 days later for not less than six months.