Ukraine will seek a solution to US duties on steel imports – Sviridenko

Ukraine is set to actively work with the United States to find an optimal solution to steel and aluminum tariffs by March 12. This was reported on Facebook by First Vice Prime Minister of Economy Yulia Svyrydenko.

According to her, in recent years, government officials have made every effort to ensure that Ukrainian steel remains outside the 25 percent tariffs in the United States.

“The US decision to impose duties on steel from other countries, including Ukraine, on March 12 will naturally affect the steel industry,” she said.

Last year, the share of steel exports in Ukraine’s total exports to the US amounted to 57.9%, or $503.3 million out of $869.1 million.

According to the Ministry of Economy, Ukraine exported the following products:

• pig iron ($363.4 million, 940 thousand tons)
• pipes ($112.9 million, 92 thousand tons)
• bars ($15.2 million, 3.3 thousand tons),
• wire ($4 million, 3.9 thousand tons),
• steel structures ($1.3 million, 182 tons).

At the same time, Yulia Svyrydenko noted that Trump’s proclamation itself states that the share of Ukrainian products in US steel imports is minimal and does not have a significant impact on US producers.

“The largest exporters of these products are ArcelorMittal Kryvyi Rih and Interpipe. These companies were severely affected by the war, as was the entire steel industry. That is why we are committed to working actively with our partners to find the best solution by March 12,” said the First Deputy Prime Minister.

As GMK Center reported earlier, the United States is imposing a 25 percent duty on all steel and aluminum imports to the country without any exceptions or exemptions starting March 12 this year.

As stated in the relevant proclamation published on the White House website, instead of supporting the Ukrainian steel industry and reducing the economic damage caused by the war, the benefits of this temporary exemption of Ukraine from Section 232 tariffs have primarily gone to producers in EU member states. Since 2021, imports from Ukraine have remained stable at 0.5% of total US imports, while imports from the EU have increased from 11.2% to 14.8%. In May 2023, when Biden’s executive order extended the elimination of duties on steel from Ukraine, it was extended to include products from the European Union made from steel of Ukrainian origin