On May 9, 2022, the Department of Commerce announced that the US will be lifting some tariffs on steel imported from Ukraine for one year. By reducing tariffs, or taxes on imported goods, that Ukrainian businesses must pay, they are able to sell more of their product in the US.
For the last thirty years, US trade policy has focused on encouraging trade and economic growth with other countries. The US will occasionally suspend tariffs on imports due to economic or political circumstances, such as with Ukrainian steel, but they also have more formal trade relationships.
