U.S. Lifts Tariffs on Ukrainian Steel in Symbolic Move
- Trump imposed 25% tariff on all steel imports in 2018
- Ukraine is a relatively minor supplier of steel to the U.S.
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The Biden administration announced it is lifting tariffs on Ukrainian steel for one year, a mostly symbolic move by the U.S. to boost the the war-torn country’s economy.
The duties being suspended were put into place by former President Donald Trump, who in 2018 imposed a 25% tariff on all steel imports. Ukraine is a relatively minor supplier of steel to the U.S., and current imports would not threaten domestic producers’ market share.