Politics
14:46, 21-Jun-2018
Turkey to start implementing retaliatory tariffs against US
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Turkey will start implementing on Thursday retaliatory tariffs worth 266.5 million US dollars against the United States over "ill-advised" and "unsupportable" additional steel tariffs enacted by Washington, Economy Minister Nihat Zeybekci said.
The tariffs will be imposed on imports of US coal, paper, walnuts/almonds, tobacco, unprocessed rice, whisky, automobiles, cosmetics, machinery equipment and petrochemical products.
In this January 7, 2015 file photo, a lineup of Ford Focus vehicles is seen on an assembly line at the Ford Michigan Assembly Plant in Michigan, US. /VCG Photo
In this January 7, 2015 file photo, a lineup of Ford Focus vehicles is seen on an assembly line at the Ford Michigan Assembly Plant in Michigan, US. /VCG Photo
"The total tariff burden today being imposed by Turkey on the US is commensurate with the additional costs Turkey faces due to the tariffs imposed on it by the US," Zeybekci said in a statement.
"They are proportional, measured and designed to protect Turkey's interests, while encouraging dialogue."
The US is the fifth largest country where Turkey exports its goods and trade volume amounted to 20.6 billion US dollars in 2017, official data showed.
A man works in a steel distribution factory in Monterrey in northern Mexico, May 31, 2018. /VCG Photo
A man works in a steel distribution factory in Monterrey in northern Mexico, May 31, 2018. /VCG Photo
US President Donald Trump decided in March to impose import duties of 25 percent on steel and 10 percent on aluminium, drawing criticism from other countries for heightening the risk of a global trade war.
The US tariffs have been imposed on Europe, Canada and Mexico, some of its biggest trade partners since June 1, after their temporary exemptions expired.
Source(s): Reuters