On May 8, the European Parliament adopted a decision to extend the suspension of import duties and quotas for certain Ukrainian goods, in particular steel products. Under the new rules, the preferential trade regime will be in effect until June 2028. The current trade facilitations introduced in 2022 were to expire on June 5 of this year.
This decision is aimed at supporting the Ukrainian economy in the context of a full-scale war and maintaining sustainable exports to EU countries.
The European Parliament emphasizes that trade support for Ukraine is viewed not only as a gesture of solidarity, but also as an element of mutually beneficial cooperation. In the meantime, the European Commission is working on a long-term solution that should ensure stable conditions for bilateral trade.The final entry into force of the new trade regime is expected after approval by the EU Council and official publication.Despite the continuation of duty-free access for Ukrainian steel, experts note that this step is not enough to truly deepen integration. In particular, from 2026 the EU will start operating the Carbon Import Adjustment Mechanism (CBAM), which could potentially create new barriers for Ukrainian exports. The procedure for applying CBAM to Ukrainian steel products has not yet been finally determined.
Against the backdrop of the ongoing regionalization of world trade, Ukraine remains one of the most vulnerable countries. There are currently 28 trade restrictions in force against Ukrainian steel products in 13 countries and trading blocs.
Source: https://gmk.center/ua/news/ievropalrament-pidtrimav-prodovzhennya-bezmitnogo-rezhimu-dlya-ukrainskoi-stali/
