Turkey starts implementing retaliatory tariffs against US
Turkey will start implementing retaliatory tariffs worth $266.5 million against the United States over ‘ill-advised’ and ‘unsupportable’ additional steel tariffs enacted by Washington, Turkish Economy Minister Nihat Zeybekci said.
"The total tariff burden today being imposed by Turkey on the U.S. is commensurate with the additional costs Turkey faces due to the tariffs imposed on it by the U.S.," Zeybekci said in a statement.
"They are proportional, measured and designed to protect Turkey’s interests, while encouraging dialogue," Reuters cited the minister as saying.
Zeybekci added that Ankara remained committed to active, robust and reciprocal trade relations with Washington.
U.S. President Donald Trump decided in March to impose import duties of 25% on steel and 10% on aluminum, drawing criticism from other countries for heightening the risk of a global trade war.
The United States is the fifth largest country where Turkey exports its goods and trade volume amounted to $20.6 billion in 2017, official data showed.