Turkey reduces import tariffs on US products by half
Turkey has reportedly lowered tariffs by half on some US imports in response to the United States’ move to halve tariffs on Turkish aluminium and steel imports. The news came after the official gazette revealed on Wednesday, May 22.
Turkey Trade Minister Ruhsar Pekcan wrote on Twitter, “Reciprocally we decided to reduce by half the additional duties levied on 22 products originating in the US.”
She said the duties levied on US originating products would be reduced from $521.2 million to $260.6 million. Those products include passenger cars, alcohol drinks, tobacco, cosmetics, and PVC.
Last week, the White House decided to lower the metal tariffs on Turkey. Steel imports have been decided to reduce from 50 per cent to 25 per cent. But at the same time, the US administration terminated Turkey’s eligibility for the Generalised System of Preferences programme.
To conclude, Pekcan said Turkey would continue working to boost trade with the United States to $75 billion.
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