Ukraine’s steel exports: duties from the US and duty-free trade from the EU
11 March 10:49
The European Commission is proposing to adopt a plan to support Ukrainian steelmaking industries, according to which the duty-free import of Ukrainian iron and steel into the EU will be extended for another year. This is stated in a message on the European Commission’s website, Komersant ukrainskyi reports.
As noted, the export of iron and steel to the EU is a significant source of income for Ukraine and the continued exemption of these products from safeguard measures would support the Ukrainian economy.
This proposal will be sent to the EU Council and the European Parliament for approval. Its adoption will guarantee that Ukrainian steel exports to the EU will be exempt from EU safeguard measures even after the expiration of the EU’s temporary autonomous trade measures, which expire on June 5, 2025.
It is worth recalling that the EU has maintained temporary safeguard measures on all imports of certain steel products since 2018. Ukraine has been exempted from these safeguard measures as part of the EU’s commitment to support the country during Russia’s illegal aggressive war. The Commission is currently working on a long-term solution that will provide economic certainty and a stable basis for trade for both Ukraine and the EU.
Ukraine’s steel exports to the US in anticipation of new duties
The US decision to impose duties on steel from other countries, including Ukraine, starting March 12 will naturally affect the steel industry. This was stated in a post on Facebook by Yulia Svyrydenko, Minister of Economy of Ukraine.
She said that exports of metallurgical products account for 57.9% of Ukraine’s exports to the United States – $503.3 million out of $869.1 million. The largest export commodities are cast iron ($363.4 million, 940 thousand tons), pipes ($112.9 million, 92 thousand tons), rods ($15.2 million, 3.3 thousand tons), wire ($4 million, 3.9 thousand tons), and metal structures ($1.3 million, 182 tons).
At the same time, the share of Ukrainian products in U.S. steel imports is minimal and does not have a significant impact on U.S. producers.
The largest exporters of these products are ArcelorMittal Kryvyi Rih and Interpipe.
