Turkey to start implementing retaliatory tariffs against US

June 21, 2018 Off By Web Desk

Turkey will start implementing on Thursday retaliatory tariffs worth $266.5 million against the United States over ‘ill-advised’ and ‘unsupportable’ additional steel tariffs enacted by Washington, Economy Minister Nihat Zeybekci said.

The tariffs will be imposed on imports of US coal, paper, walnuts/almonds, tobacco, unprocessed rice, automobiles, cosmetics, machinery equipment and petrochemical products.

The total tariff burden today being imposed by Turkey on the US is commensurate with the additional costs Turkey faces due to the tariffs imposed on it by the US, Zeybekci said in a statement.

They are proportional, measured and designed to protect Turkey’s interests while encouraging dialogue.

US President Donald Trump decided in March to impose import duties of 25 percent on steel and 10 percent on aluminum, drawing criticism from other countries for heightening the risk of a global trade war.

The US tariffs have been imposed on Europe, Canada, and Mexico, some of its biggest trade partners since June 1, after their temporary exemptions expired.

The United States is the fifth largest country where Turkey exports its goods and trade volume amounted to $20.6 billion in 2017, official data showed.

Turkey remained committed to active, robust and reciprocal trade relations with the United States, Zeybekci said.

Source: International Islamic News Agency