The U.S. announced recently that it will suspend for one year the 25 percent Section 232 tariffs on steel imported from Ukraine. A Commerce Department press released noted that Ukraine’s steel industry “is uniquely important to the country’s economic strength” and employs 1 in 13 Ukrainians. Many Ukrainian steel mills have continued to pay, feed, and even shelter their employees amid Russia’s invasion of the country, the DOC said, and despite nearby fighting some have even started producing again. Suspending the Section 232 tariffs is designed to create export opportunities for these mills.
Copyright © 2024 Sandler, Travis & Rosenberg, P.A.; WorldTrade Interactive, Inc. All rights reserved.