Turkey in trade war against US

International Desk: From today in Turkey tariffs and customs duties come into force on dozens of US products - ranging from cars to sunglasses - in response to Washington's decision to impose sanctions on steel and aluminum of Turkish production.

According to data provided by the World Trade Organization (WTO), Ankara will have to pay $ 267 million in customs duties for $ 1.8 billion products exported from the US.

Commenting on the protectionist turnaround imposed by the White House, Turkish Economy Minister Nihat Zeybekci speaks of "unteneble" and "reckless" measures.

The tariffs will affect the imports of coal, paper, nuts, almonds, tobacco, raw rice, whiskey, cars, cosmetics, machinery and petrochemical products from the United States. The provision, specifies the minister, is "proportionate to the additional costs that Turkey must face" due to US tariffs.

"They are proportionate, measured and thought through - concludes Zeybekci - to protect the interests of Turkey", while continuing to encourage "dialogue" with the American counterpart.

In March, US President Donald Trump decided to impose tariffs of 25% on steel and 10% on aluminum, attracting the criticism of much of the international community. In recent weeks China and the European Union have clashed with the tenant of the White House and the risk of a real global trade war has not been excluded.

Similar measures have already entered into force on June 1 last year against Europe, Mexico and Canada, which has always been one of the main economic and commercial partners of the United States.

Recent statistics state that Turkey is the 32nd trade partner in the United States. At the same time, the US is the fifth country in importance in which Ankara exports its products, with a total trade volume of 20.6 billion dollars registered in 2017.

The US is an important market for the country, so as to encourage Minister Zeybekci to confirm that Turkey "remains committed to preserving effective, solid and reciprocal commercial relations" with the United States.

Source: Agencies


risingbd/Dhaka/June 21, 2018/AI