Turkey, Economy

New US tariffs against WTO rules: Turkish ministry

Turkey to continue defending interests of exporters on every international platform, Trade Ministry says

10.08.2018
New US tariffs against WTO rules: Turkish ministry

By Gokhan Ergocun and Tuba Sahin

ANKARA

The new U.S. tariffs on Turkey are against the rules set by the World Trade Organization (WTO), the Trade Ministry said on Friday.

"Turkey, as it determines and implements its own trade policy in compliance with the World Trade Organization, expects other member countries to comply with international rules," the ministry said in a press release.

It added: "We will continue to support our iron, steel and aluminium exporters by defending their interests against illegal practices of other countries on every international platform, especially WTO."

President Donald Trump announced that the U.S. has doubled aluminium and steel import tariffs on Turkey, fixing them at 20 percent and 50 percent respectively.

The ministry added: "The U.S. will continue to be our important trading partner."

Turkey's iron, steel and aluminum exports to the U.S. were $1.1 billion in 2017 -- 0.7 percent of the total exports.

Turkey's imports from the U.S. were worth $1.3 billion in 2017, the ministry added.

"The real losers of decisions taken by the U.S. administration are producers, private sector, and exporters of both countries," the statement concluded.

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