Turkey to respond to US over steel, aluminum tariffs: Economy Ministry sources
Ankara will apply counter-measures on Washington through tariffs worth $266.5 million on imports of U.S. coal, paper, walnuts/almonds, tobacco, unprocessed rice, whisky, automobiles, cosmetics, machinery equipment and petrochemical products, the sources, who spoke on condition of anonymity, told state-run Anadolu Agency on May 18.
The value of these imports amounts to some $1.8 billion, they added.
In March, U.S. President Donald Trump imposed a 25 percent tariff on imported iron and steel, and a 10 percent tariff on aluminum.
The sources said Turkey’s move came after its attempt to carve out an exemption to the tariffs remained “inconclusive due to Washington’s current stance.”
Turkey’s measures are in line with the losses caused by hurdles to Turkey’s iron and steel exports to the U.S.
Economy Minister Nihat Zeybekci previously described the tariffs as “unacceptable” for Turkey.
Following the U.S. decision, Zeybekci also asked Commerce Secretary Wilbur Ross to exclude Turkey from the tariffs.
In late April, Turkish Deputy Prime Minister Mehmet Şimşek also met with U.S. Treasury Secretary Steven Mnuchin in Washington to discuss the issue.
On April 30, Trump announced that the U.S. would delay the tariffs on aluminum and steel imports from the EU, Canada, and Mexico.
The White House also said it had reached a deal with South Korea over steel imports. Other deals were reached with Argentina, Australia and Brazil, with details to come once the agreements are finalized.
Currently, about 90 percent of aluminum used in U.S. manufacturing is imported, as well as one-third of all steel. After the tariffs were announced, industry groups said consumers would face the brunt of the tariffs due to increased prices for items ranging from beer to cars to thousands of other items built or packaged with the metals.