US to temporarily suspend tariffs on Ukrainian steel for 1 year

By Ovunc Kutlu

ANKARA (AA) - The US Commerce Department announced Monday it will temporarily suspend a total of 232 tariffs on Ukrainian steel for one year amid the worsening economic conditions due to Russia's war on Ukraine.

Ukraine’s steel industry is significant to the country’s economic strength, employing one in 13 Ukrainians, it said in a statement, adding that "the steel mill in (the city of) Mariupol has become a lasting symbol of Ukraine’s determination to resist Russia’s aggression."

"Many of Ukraine’s steel mills have continued to pay, feed, and even shelter their employees over the course of fighting. Despite nearby fighting, some Ukrainian mills have even started producing again," it said.

US Secretary of Commerce Gina M. Raimondo said: "For steel mills to continue as an economic lifeline for the people of Ukraine, they must be able to export their steel."

Ukraine is the world's 13th biggest steel producer and it exports approximately 80% of its steel production.