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Turkey to reduce US import tariffs this week, reciprocating US move

Minister of Foreign Affairs of Turkey, Mevlut Cavusoglu (L) walks with U.S. Secretary of State, Mike Pompeo (R) during their meeting in Washington, United States on 3 April 2019. [Fatih Aktaş - Anadolu Agency]
Minister of Foreign Affairs of Turkey, Mevlut Cavusoglu (L) walks with U.S. Secretary of State, Mike Pompeo (R) during their meeting in Washington, United States on 3 April 2019 [Fatih Aktaş/Anadolu Agency]

Turkey’s Trade Ministry will implement a reciprocal reduction in tariffs on US imports after the United States halved tariffs on Turkish steel imports last week, two Turkish sources said on Tuesday, reports Reuters.

The White House last week terminated Turkey’s eligibility for the Generalized System of Preferences (GTS) programme, in a move Turkey said contradicted trade goals, but also halved some of the tariffs it had raised last August amid a diplomatic row between the NATO allies.

The sources said the reciprocal reduction will halve tariffs on some US imports, including passenger cars, alcoholic drinks, tobacco, cosmetics and PVC. The lowered tariffs will take effect with a presidential decree this week, the sources said.

READ: US terminates Turkey’s preferential trade agreement, reduces tariffs on steel

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Asia & AmericasEurope & RussiaInternational OrganisationsNATONewsTurkeyUS
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