Ukrainian industrial group Interpipe owned by Viktor Pinchuk says it is being forced to leave the US pipe market due to restrictions on production in the country. This is stated in the company's statement that it sent to the agency Interfax-Ukraine.
For instance, the report states that in the past few months the United States announced that it was imposing a 23.75% duty on Ukrainian line pipes and plans to impose a 30.19% duty on Ukrainian oil and gas pipes (in addition to the 25% customs duty that is in effect now). Thus, the total duty to be applied to Ukrainian pipe products will be about 50%.
"This threshold will force Interpipe to leave the US market. This can lead to cutting several thousand jobs at the enterprises of the Dnipropetrovsk region and a decrease in tax payments by hundreds of millions of hryvnias to the state and local budgets," the statement says.
Also Interpipe noted that the share of Ukrainian pipes in the US market is less than 1%, and in the oil and gas range—less than 0.5%, which is not a threat to the economic security of the United States.