Turkey’s GSP Status Removed, Steel Tariffs Dropped to 25%
On May 16, the U.S. administration released a Presidential Proclamation announcing the immediate removal of the Republic of Turkey from the Generalized System of Preferences (GSP). The proclamation also announced the removal of Turkey’s exempt status from the application of safeguard measures on crystalline silicon photovoltaic (CSPV) products and large residential washers.
The GSP is a U.S. trade program designed to promote economic growth in developing countries by providing preferential duty-free entry from designated countries.
In a separate Presidential Proclamation released later the same day, the U.S. administration announced the steel tariffs imposed on Turkey in August 2018 would be reduced from their current rate of 50 percent down to 25 percent. According to the proclamation, steel imports from Turkey declined by 48 percent under the higher tariff rate, allowing “the domestic industry’s capacity utilization [to improve] to approximately the target level recommended.”
Trans-Border will continue to monitor the situation. If you have any questions, please reach out to Bill Carey, Import Compliance Manager, at firstname.lastname@example.org or (800) 493-9444.