After Tariff Reduction, New Efforts To Boost Trade Between United States And Turkey
As Connecting the Dots reported last week, President Donald Trump removed higher tariffs on steel imports from Turkey and instead imposed a 25 percent ad valorem tariff on the imports, “commensurate with the tariff imposed on such articles imported from most countries.” The White House proclamation said the change was due to imports of steel articles from Turkey falling by 48 percent in 2018.
Last week, Reuters reported that the Turkish government told the World Trade Organization that it had responded to the U.S.’s announcement by cutting tariffs on certain U.S. goods, including alcoholic beverages, PVC and passenger cars. Total duties on these products will be cut from $521.2 million to $260.6 million.
Turkish officials also said they hope to work with the United States to increase trade between the two nations by $75 billion.