May 12 2018

Turkey to take economic measures against United States

Turkey is to respond to tariffs imposed on metal imports by the United States with countermeasures, Economy Minister Nihat Zeybekçi was quoted by Islamist newspaper Akit as saying.

The United States put a 25 percent tariff on imports of iron and steel and 10 percent on aluminium, but excluded various countries including those in the European Union and South Korea, Brazil, Mexico and Canada from the measures.

Steel-exporting countries including Turkey, India and China stand to lose out as a result.

“We said that Turkey needed to be kept out of this business,” Zeybekçi said.

“At last, from this week, we are saying that Turkey will take countermeasures and inform them of it. We said that we too, in the same way, would take measures against them on the same basis they have set out in terms of our imports from them.”

From now on, the balance of trade between Turkey and the United States would alter in Turkey’s favour, Zeybekçi predicted.

Turkey is the sixth-largest exporter of steel to the United States, providing the country with 6 percent of its steel imports, worth $1.2 billion.