Secretary of Commerce Gina Raimondo announced a presidential proclamation extending the temporary suspension of 232 Tariffs on Ukraine steel.
Raimondo has declared the U.S. will prolong the temporary exemption of tariffs on Ukrainian steel, outlined in Section 232 of the Trade Expansion Act of 1962, as amended, for an additional year, according to a May 31 news release.
“Over the last year, the United States has provided a much-needed market for the steel that Ukraine is able to export. In doing so, Americans are directly supporting the people of Ukraine, many of whom rely on Ukraine’s steel industry for their economic well-being,” Raimondo said in the release.
A Presidential Proclamation signed by President Joe Biden May 27, 2022, temporarily halted the Section 232 steel duties for Ukraine, offering a significant boost to the country's crucial industrial sector. the release reported. This decision not only opened up valuable export prospects but also ensured the continued employment of workers in Ukrainian steel mills.
“Thanks to President Biden’s leadership in signing this Presidential Proclamation, today’s announcement is a signal to the Ukrainian people that our commitment to them remains unwavering in the face of Russia’s aggression,” Raimondo added, according to the press release.
The U.S., in its latest Presidential Proclamation, reaffirmed its unwavering dedication to the people of Ukraine during a period of unwarranted conflict, extending the aforementioned action for an additional year, the release said.
The latest proclamation was issued May 31. It reports Ukraine's situation remains a special care warranting the extension of the tariff suspension, according to the proclamation.
Raimondo's recent announcement regarding the extension of the temporary suspension of 232 tariffs on Ukrainian steel reaffirms the U.S.'commitment to the people of Ukraine, according to the news release. By providing market access and economic support, the U.S. aims to bolster Ukraine's steel industry and mitigate the effects of Russia's aggression.
