Lower Tariffs for Ukraine Under Consideration in Senate Finance Committee
The Senate Finance Committee is talking about liberalizing trade with Ukraine, according to Sen. Rob Portman, R-Ohio, who represents many Ukrainian-Americans in his state. He told International Trade Today at the Capitol on April 27 that the proposals being discussed might be broader than just lifting Section 232 tariffs on Ukrainian steel. Lifting 25% tariffs on Ukrainian steel was argued for by Senate Finance Committee member Pat Toomey, R-Pa., and by Sen. Dianne Feinstein, D-Calif.
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"232 is something the administration would normally deal with, through executive action. And 232 was put in place as a national security measure, so maybe it should be relieved as a national security measure," Portman said.
The U.K. has lifted tariffs and quotas on all Ukrainian exports, and the EU parliament is considering doing the same after the European Commission suggested a one-year tariff and quota holiday.
House Ways and Means Committee ranking member Kevin Brady, R-Texas, told International Trade Today: "I think it's a terrific idea, to strengthen trade relations with Ukraine, including lowering tariffs on their products in the U.S. We know, admittedly, they’re not going to be exporting much, anytime soon." But he said he thinks America should commit not just to help them win the war with Russia but to help their economy recover from the invasion. "Part of our responsibility is to help them economically recover … not just through aid, but through an opportunity to grow jobs and find more customers in the U.S.," he said.