Monday, Oct 21

Turkey lowers tariffs on some US goods by half

Duties levied on the US originating aforementioned products will be reduced from $521.2 million to $260.6 million.
22.05.2019 - 15:33

Turkey decided to reduce by half the additional duties levied on 22 products originating in the US in a reciprocal move, the trade minister said on Wednesday.

DECISION TO REDUCE BY HALF ON 22 PRODUCTS

The move came after the US government announced that it decreased tariffs on Turkish iron and steel imports to 25 percent from 50 percent last week.

"With this decision, duties levied on the US originating aforementioned products will be reduced from $521.2 million to $260.6 million," Ruhsar Pekcan said on Twitter.  The list of products includes rice, alcoholic beverages, cosmetic products, and some motor vehicles.

Turkey keeps working on eradicating all obstacles to bilateral trade and achieving bilateral trade volume target, she added.

In February, President Recep Tayyip Erdoğan and Donald Trump set a goal of $75 billion in bilateral trade.