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TCUD: US should replace Section 232 with tariff quotas, EU should ease existing quota system

2 Dec 2021 15:08 reported by Ranny Fang

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According to the Turkish Steel Producers Association (TCUD), Turkish crude steel production in October this year increased by 8% year on year to 3.5 million tons. In the first 10 months of this year, the Turkish steel import and export ratio increased from 109% in the same period last year to 115%.

The country's steel production growth in the next two months is likely to continue. Turkey's production growth was expected to be more than three times the world steel production growth at the end of the year.

With the agreement on Section 232 tariffs between the US and Europe, protective measures in the world's steel trade began to decrease. TCUD claimed that Turkey's general foreign trade with the US and EU countries is balanced. Therefore, the US should replace Section 232 with a tariff quota for Turkey, and the EU should ease the existing quota system.

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