<p>The European Commission has proposed a one-year suspension of import duties on all Ukrainian goods not covered by an existing free trade deal to help the country's economy during the war with Russia. The proposal, which is an unprecedented gesture of support for a country at war, would also see the suspension for one year of all EU anti-dumping and safeguard measures in place on Ukrainian steel exports. This far reaching step is designed to help boost Ukraine's exports to the EU. It will help alleviate the difficult situation of Ukrainian producers and exporters in the face of Russia's military invasion. The proposal now needs to be considered and agreed by the European Parliament and the Council of the European Union.</p><p>European Commission President Ms Ursula von der Leyen said “Russia's unprovoked and unjustified aggression is severely affecting the Ukrainian economy. I have been in discussions with President Zelensky on ways of supporting the economy, beyond the macro-financial assistance and grants we are providing. We both agree on the critical importance of a quick and broad import duty suspension to boost Ukraine's economy. The step we are taking today responds to this call. It will greatly facilitate the export of Ukrainian industrial and agricultural goods to the EU. We continue to stand by Ukraine in these dire times.”</p><p>Ukrainian President Mr Volodymyr Zelenskiy said expressed his gratitude and said “Right now this will allow us to maintain economic activity in Ukraine, our national production, as much as possible. But this decision needs to be considered not only in the Ukrainian context. Sufficient export of our products to European and global markets will be a significant tool against crises.”</p><p>Some media reports suggest that US administration is also considering suspending tariffs on Ukrainian steel imports, as a symbolic show of support for the war-torn nation, but the move to suspend the duties is not imminent and US President Mr Joe Biden hasn’t been presented with the proposal. Former US President Mr Donald Trump imposed a 25% tariff on all steel imports, justifying the duties on national security grounds. In 2021, Ukraine shipped 130,652 tonnes of steel to the US, just under 0.5% of total imports</p>
<p>The European Commission has proposed a one-year suspension of import duties on all Ukrainian goods not covered by an existing free trade deal to help the country's economy during the war with Russia. The proposal, which is an unprecedented gesture of support for a country at war, would also see the suspension for one year of all EU anti-dumping and safeguard measures in place on Ukrainian steel exports. This far reaching step is designed to help boost Ukraine's exports to the EU. It will help alleviate the difficult situation of Ukrainian producers and exporters in the face of Russia's military invasion. The proposal now needs to be considered and agreed by the European Parliament and the Council of the European Union.</p><p>European Commission President Ms Ursula von der Leyen said “Russia's unprovoked and unjustified aggression is severely affecting the Ukrainian economy. I have been in discussions with President Zelensky on ways of supporting the economy, beyond the macro-financial assistance and grants we are providing. We both agree on the critical importance of a quick and broad import duty suspension to boost Ukraine's economy. The step we are taking today responds to this call. It will greatly facilitate the export of Ukrainian industrial and agricultural goods to the EU. We continue to stand by Ukraine in these dire times.”</p><p>Ukrainian President Mr Volodymyr Zelenskiy said expressed his gratitude and said “Right now this will allow us to maintain economic activity in Ukraine, our national production, as much as possible. But this decision needs to be considered not only in the Ukrainian context. Sufficient export of our products to European and global markets will be a significant tool against crises.”</p><p>Some media reports suggest that US administration is also considering suspending tariffs on Ukrainian steel imports, as a symbolic show of support for the war-torn nation, but the move to suspend the duties is not imminent and US President Mr Joe Biden hasn’t been presented with the proposal. Former US President Mr Donald Trump imposed a 25% tariff on all steel imports, justifying the duties on national security grounds. In 2021, Ukraine shipped 130,652 tonnes of steel to the US, just under 0.5% of total imports</p>
