US increases tariff on Turkish Steel to 50%
The U.S. administration posted a statement announcing an increase of the Section 232 tariffs on Turkish steel from 25 to 50% effective immediately. The initial tariffs were placed on Turkey in August 2018.
This announcement follows a decision by the U.S. administration to withdraw troops from Syria. The administration’s announcement makes it evident that the increased tariffs are meant to discourage Turkey from participating in any further destabilizing activities in Northern Syria.
In addition to the increased tariffs, the U.S. will also cease negotiations surrounding a $100 billion trade deal with Turkey and threatened further economic sanction should Turkey continue its destabilizing activities.
Trans-Border will continue to monitor the situation. If you have any questions, please reach out to Bill Carey, Import Compliance Manager, at bcarey@tbgfs.com or (800) 493-9444.
