Turkey to impose re-balancing tariffs on steel products from EU
28 May 2020 16:04 reported by Julian Lu
According to the information from the World Trade Organization (WTO), Turkey could impose additional import duties of 9-17% on various steel products imports from the EU in response to EU safeguard measures applied since 2019.
A 9% duty will be imposed by Turkey on products under HS code 7208, 10% on good under HS code 7209, 14% for HS codes 7210 and 7215, 15% for HS codes 7211, 7212 and 7214, and 17% was on HS code 7216.
Inside the notification, it said that Turkey reserved its right to propose a suspension of concessions after 30 days following the date of releasing policy. In addition, Turkey reserved its right to modify, supplement, or replace the suspension of concessions.
Generally, Turkey preferred to make the rebalancing policy relatively gentle compared to the EU safeguard measures applied, which aimed to minimize the negative effect on bilateral trade. However, the expert estimated that the new policy will affect trade worth US$1.6 billion.
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