Ukraine asks US to cancel 232 import duty

Ukraine’s president Vladimir Zelensky may ask the US president Donald Trump to consider cancelling the 25% import duty imposed last year upon the conclusion of the Section 232 investigation at their meeting penned for 1 September, Kallanish learns from Ukrainian metals association Ukrmetallurgprom.

The association’s letter to the Ukrainian president contains a reminder that, akin to several countries that have managed to renegotiate the duty – Canada, Mexico, Australia, Brazil, Argentina and South Korea – Ukraine has also started the process of negotiations for its exports of steel and aluminium, but fell short of completing it due to “…uncoordinated efforts of various institutions.”

According to the association’s estimates, the cancellation of the 25% import duty for Ukrainian products will have little effect on the US domestic steel market, as its share in total US imports is less than 1%. It notes also that the trade balance is in the US favour at over $1 billion annually.

Ukraine’s major remaining ferrous export to the US is pig iron, which is exempt from the 25% duty.