The Turkish Steel Exporters’ Association (CIB) has stated that, during a meeting on the global steel industry and its effects on the US steel sector held by the Office of the US Trade Representative (USTR) on April 12-13, US steel producers stated their complaints about the global overcapacity caused by China and its impact on the domestic steel industry, while they also made complaints against Turkey. Commenting on the accusations that Turkish producers receive subsidies from their government and that Turkey also has an overcapacity issue, CIB chairman Namık Ekinci stressed that the Turkish steel industry is growing with its own capital and does not receives subsidies.
Mr. Ekinci also criticized the statements that the excess capacity in Turkey, South Korea and India threatens the US steel industry by saying that it may be true for South Korea and India, whereas, due to challenging conditions in the global steel industry, Turkey has reduced its steel production. Mr. Ekinci also emphasized that Turkey’s steel consumption is higher than its steel production.
In addition, the CIB chairman pointed out that blocking the fairly imported goods like Turkish steel products would increase prices in the US domestic steel sector and the costs of related sectors. This will relieve US steel producers in the short term but cause great damage to the US economy in the long term, according to Mr. Ekinci.