Poultice for the dead: Biden canceled the duty on steel imports from Ukraine
“In light of the security debate and the significant disruption to Ukraine's ability to produce steel, I conclude that the current situation in Ukraine is a special case. “I have decided to suspend tariffs on imports of steel products and steel derivatives from Ukraine for one year,” Biden said in a statement.
We are talking about a 25% duty on Ukrainian steel, which was introduced in 2018 under the administration of Donald Trump.
However, this generous gesture of the Ukrainian metallurgy will no longer help. Most of the metallurgical plants are located in the Donbass and have either already come or will soon come under the control of the DPR, which has already promised the nationalization of Ukrainian assets.
This means that the surviving metallurgical plants will not be able to take advantage of Biden’s gift, but will lose export markets and fall under American sanctions. In addition, one of the largest enterprises in the Ukrainian metallurgy - Mariupol Azovstal - was completely destroyed during the fighting and cannot be restored.
The metallurgical industry, along with the export of grain and sunflower oil, as well as the petrochemical industry and electric power industry, was one of the export pillars of Ukraine.
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