The UK and USA Canceled Import Duties on Ukrainian Steel

by Meifan Honcharuk
Monday, June 5, 2023
The UK and USA Canceled Import Duties on Ukrainian Steel

The special conditions for the import of rolled metal have been extended again for another 1 year

The Teaching Regulation Agency recommended to the British parliament to continue abolishing the duty on importing Ukrainian rolled metal. Parliament supported the proposal and extended the special conditions from May 30, 2023, for 12 months. In this way, Great Britain is already helping Ukraine for the second time: the first deadline for cancelling trade measures was until August 2022.

Currently, it is about cancelling duties for hot-rolled rolled iron, unalloyed and alloyed steel. This material accounts for almost a third of the world's production of steel, as this material is the raw material for the manufacture of many types of steel.

In deciding to recommend the elimination of tariffs for Ukraine, the TRA considered the restart of Ukrainian steel plants and increased domestic demand for steel to rebuild the country's destroyed infrastructure. Initially, the TRA planned to expand import measures on China, Russia, Brazil and Iran and remove them for Ukraine.

The United States of America also took similar measures regarding Ukrainian metal.

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