According to a statement released by the White House, the US government has decided to extend the temporary suspension of Section 232 tariffs on Ukrainian steel for another year. The tariffs were first suspended in May 2022 and then again in May 2023, as SteelOrbis previously reported.
“Ukraine’s steel industry continues to be significantly disrupted by the Russian Federation’s unjustified, unprovoked, unyielding, and unconscionable war against Ukraine. The significant disruption in Ukraine’s steel production has decreased the total amount of steel produced by Ukraine. The amount of steel imported into the United States from Ukraine decreased in 2023 compared to 2022, and it is still below the average import volume prior to 2021. In 2023 the amount of steel imported into the United States from Ukraine accounted for less than 1 percent of all steel imports into the United States. At the same time, the steel industry has been historically important to Ukraine, and both the United States and Ukraine have an interest in maintaining that industry as an economic lifeline while the country recovers,” US President Joe Biden stated.
