Ukraine Feels Protectionist Pinch

The Ukraine is the world’s seventh-largest producer of raw steel, but it is nowhere near that position as a consumer of steel. The export-heavy steel industry of the Ukraine is among the targets of protectionist measures in the U.S. and Western Europe, and these measures are starting to have their intended effect.

According to an Associated Press report, Ukraine’s steel exports to the U.S. fell to just 1,650 short tons in April--12 times less than what was shipped in April of 2001.

In addition to losing out in the U.S. market, Ukrainian steelmakers also face new barriers to shipping to the European Union and parts of Asia.

“The loss of exports to the U.S. market was not as great as the danger of a chain reaction of protective measures by other countries that import Ukrainian metal,” Ukrainian deputy state secretary for economic policy Serhiy Hryshchenko told the Interfax news agency.

Virtually every nation that has enacted anti-dumping laws or other restrictions against imported steel has put the Ukraine on their target list. Chile, China, Mexico, Peru, Poland, and even neighboring Russia have all restricted Ukrainian steel imports, according to AP. Hryshchenko has stated that metals producers in the Ukraine have lost $1.2 billion over the past two years.