Turkey's Ministry of Economy has announced that it has lowered the import duty for certain iron or non-alloy steel wire and cold rolled steel bars, imported by the Turkish companies which use these products as inputs, from 25 percent to five percent. The products in question currently fall under Customs Tariff Statistics Position Number 7217.30.90.00.00.
In addition, according to the economy ministry, certain cold rolled steel bar products under Customs Tariff Statistics Position Number 7228.50.69.00.11 have been exempted from the 25 percent import duty imposed on all cold rolled steel bar products falling under Customs Tariff Statistics Position Number 7228.50.