U.S. terminates Turkey's preferential trade agreement
U. S. President Donald Trump terminated Turkey’s preferential trade treatment that allowed some exports to enter the country duty free. The decision is effective May 17.
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.
The U.S. Trade Representative (USTR) on March 4 said Turkey was no longer eligible to participate because it “is sufficiently economically developed," Reuters recalls.