US reduces tariffs on Turkey to 25 percent

The White House has announced that the 50 percent duty on Turkish steel imports has been halved to 25 percent as of May 17. In a statement, the administration said that since the implementation of the higher tariff, steel imports from Turkey declined 48 percent in 2018, “with the result that the domestic industry’s capacity utilization has improved at this point to approximately the target level recommended” in the initial DOC report from January 2018. “This target level, if maintained for an appropriate period, will improve the financial viability of the domestic steel industry over the long term,” the statement said.

In August 2018, the US imposed an additional 25 percent duty only on Turkish steel imports after announcing Section 232 steel tariffs of 25 percent in March of the same year.

On the other hand, the US has terminated the Generalized System of Preferences (GSP) program for Turkey based on its level of economic development.

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