Photo:depositphotos The EU will extend the suspension of import duties on Ukrainian iron and steel products until 2028 under the Autonomous Trade Measures (ATM) Regulation, the EU Parlament reported on May 8. “Ukraine’s steel industry is the backbone of the Ukrainian economy… The deepening of trade relations between the EU and Ukraine is not a matter of charity, but a mutually beneficial exchange that strengthens both parties,” the EU Parliament’s rapporteur Karin Karlsbro said. Previously the European Commission confirmed that it will not extend the suspension of import duties on Ukrainian exports after it ends on June 5. The EU’s ATMs, or so-called “trade visa-free” regime, was adopted in the summer of 2022, after Russia launched its full-scale invasion. It removed tariff rate quotas on 36 categories of Ukrainian import goods to provide support to the country during the war. The European Parliament approved extending the EU’s trade liberalization measures for Ukrainian iron and steel as an exception, with 354 votes in favor, 147 against, and 53 abstentions. The new regulation will apply for three years, until June 2028, after the EU Council gives its approval, the Parliament reported. “Ukraine’s steel industry continues to deliver, despite many workers having left the steel plants to fight on the front lines and factories being subjected to severe attacks by Russia…”, Karlsbro said. Source: www.kyivpost.com
EU Maintains Duty-Free Access for Ukrainian Iron, Steel to 2028
