VATupdate

United States suspends tariffs on Ukrainian steel

With the goal of supporting one of Ukraine’s most important industries, US Commerce Secretary Gina M. Raimondo announced on May 10 that the United States will be temporarily suspending Section 232 tariffs on Ukrainian steel for a one-year period. The United States imposed a 25% tariff on foreign steel and a 10% tariff on foreign aluminum in 2018 on national security grounds: that the influx of inexpensive metal had decimated US manufacturing and posed a threat to US military and industrial capacity.

Source PwC

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