China News Agency, Washington, May 9 (Reporter Sha Hanting) The U.S. Department of Commerce announced on the 9th local time that it will suspend the imposition of tariffs on steel imports from Ukraine for one year.
U.S. Commerce Secretary Raimondo said in a statement that the U.S. will suspend tariffs on steel imports from Ukraine for a year to help Ukraine recover from the Russian-Ukrainian conflict.
Raimondo said the move was intended to show the Ukrainian people of U.S. support.
In its statement, the Commerce Department emphasized the importance of the steel industry to Ukraine, saying that one in every 13 people in Ukraine works in steel plants.
"For steel mills to remain an economic lifeline for the Ukrainian people, they must be able to export steel," Raimondo said.
According to US media statistics, Ukraine is the 13th largest steel producer in the world, and 80% of the steel it produces is exported.
According to the U.S. Census Bureau, the U.S. will import about 130,000 tons of steel from Ukraine in 2021, accounting for only 0.5% of U.S. steel imports from foreign countries.
US media believes that the suspension of tariffs on steel imports from Ukraine is more "symbolic".
In 2018, the Trump administration announced a 25% tariff on imported steel from many countries, including Ukraine, on the grounds of "national security".
Many members of Congress from both parties have called on the Biden administration to cancel the tax policy.
Except for the United States, the European Union recently suspended tariffs on all goods imported from Ukraine, including steel, industrial products and agricultural products.
Since Russia launched its military operation in Ukraine on February 24, the United States has provided about $3.7 billion in military aid to Ukraine and its surrounding allies.
At the same time, the United States has adopted multiple rounds of sanctions against Russia, including sanctions on Russian President Vladimir Putin and other individuals, excluding some Russian banks from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) payment system, and suspending normal trade relations with Russia.