U.S. suspends tariffs on Ukrainian steel for 1 year

The Biden administration will lift tariffs on Ukrainian steel for one year, it announced Monday, per The New York Times.

The decision halts a measure implemented by former President Donald Trump in 2018, and comes as the White House looks to assist Ukraine in the ongoing Russian invasion, the Times notes. Though Ukraine ranks 12th among America's foreign steel suppliers, "the sector is a significant source of economic growth and employment for Ukraine, and steel mills have continued to provide paychecks, food and shelter for their workers through the war," the Times reports.

During a visit to Washington last month, Ukrainian Prime Minister Denys Shmyhal asked officials the suspend the tariffs, which were implemented three years ago for reasons of national security, the Times writes. Ukraine ranks 13th among global steel producers.

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Notably, a steel mill in Mariupol, Ukraine was for weeks sheltering thousands of Ukrainian soldiers and civilians while simultaneously under attack from Russian forces. On Saturday, both Russian and Ukrainian officials said all women, children, and elderly individuals had been evacuated from the plant.