US doubles the tariffs on Turkish steel imports

The US President Donald Trump tweeted on Friday August the 10th that he has just authorized to double tariffs on Turkish steel imports. His tweet reads: “I have just authorized a doubling of tariffs on steel and aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong dollar! Aluminum will now be 20 percent and steel 50 percent. Our relations with Turkey are not good at this time!”

US President Trump later said that the additional duties on Turkish steel imports have come into force as of Monday, August 13. “Turkey is among the major exporters of steel to the United States for domestic consumption. To further reduce imports of steel articles and increase domestic capacity utilization, I have determined that it is necessary and appropriate to impose a 50 percent ad valorem tariff on steel articles imported from Turkey, beginning on August 13, 2018,” said the President.

In March this year, the US imposed 10 percent tariff on aluminum imports and 25 percent tariff on steel imports, under Section 232 citing national security reasons.

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