WASHINGTON (Reuters) – America will prolong by one other 12 months the non permanent suspension of tariffs on Ukrainian metal, the Commerce Division stated on Wednesday, citing the Russian invasion of Ukraine.
America initially suspended tariffs on Ukrainian metal for one 12 months in Might final 12 months, months after the Russian invasion started.
Then-President Donald Trump in 2018 imposed a tariff of 25% on metal imports from nations together with Ukraine. U.S. lawmakers urged President Joe Biden to take away the tariffs after Russia invaded Ukraine in February 2022.
Ukraine was the thirteenth largest metal producer and sometimes exported about 80% of its manufacturing earlier than the invasion from Russia.
Previous to Russia’s invasion, practically half of U.S. imports from Ukraine have been metals comparable to iron, pig iron and metal, however they represented a tiny fraction of whole U.S. imports of metals.
The U.S. Chamber of Commerce famous Ukraine exported a complete of $1.9 billion in items to the US in 2021 – lower than 0.1% of all U.S. imports however about 2.8% of Ukraine’s whole exports.
Final week, the European Union agreed to droop restrictions on imports from Ukraine for an additional 12 months.
Earlier on Wednesday, the White Home introduced the most recent in a collection of support packages for Ukraine that features as much as $300 million value of air protection techniques, ammunition and different protection tools.
Reporting by Kanishka Singh in Washington; Enhancing by Diane Craft and Lisa Shumaker
