U.S. says terminating Turkey's preferential trade agreement: reports

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The U.S. has terminated Turkey's preferential trade treatment under a program that allowed some exports to enter the United States duty-free on Thursday, Reuters reported citing a White House statement.

But it has halved its tariffs on imports of Turkish steel to 25 percent and the decision will be effective Friday, May 17, 2019, it said.

The White House said it was appropriate to terminate Turkey's eligibility to participate in the Generalized System of Preferences (GSP) program, based on its level of economic development, Reuters reported.

(Top image: VCG file photo)