30 May 2019

The USA changed rates steel rates for the Turkish import

May 17, the US changed the conditions for Turkey. We are talking about steel tariffs. So Turkey was excluded from the General system of preferences. Recall that this allowed her to deliver some goods duty free. Now she has lost that right. But Turkish goods will apply the standard rate of the steel tariffs. It is 25% instead of 50% that was previously. Last year the volume of imports of Turkish steel in the US declined. This refers to compared to 2017. The difference was 48%. This was announced by Donald trump.

The level of capacity utilization of enterprises in the United States is growing steadily. He has already exceeded 80%. It turns out that the desired result was obtained. This fully justifies the introduction of us steel tariffs. Because the President decided to abolish the higher rate for Turkish imports. Before Turkey came into the category of a kind of «beneficiaries». Along with it there were about 120 countries. We are talking about the General system of preferences. In 2017 the Turkish preferential imports amounted to 1.66 billion dollars. It is about 17.7% of the total volume of import from Turkey. For the most part, the benefits of affected enterprises three industries. Manufacturers of jewelry, as well as the cars and their details.

The United States trade representative in March announced the expulsion of the «beneficiaries». The reason for this is that it is economically developed country. Because it does not fall under the criteria of this system. This system was created with the aim to support developing countries. Higher tariffs for Turkey entered into force in August 2018. Then the relations of the two country somewhat spoiled. It happened almost a full stop of supplies of the Turkish rental. But the updated tariffs can help to establish these relationships.

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