Dr. Veysel Yayan, general secretary of the Turkish Steel Producers Association (TCUD), has said that the reduction of the 50 percent duty in the US on Turkish steel imports to 25 percent is a positive step towards mending trade relations between Turkey and the US.
Stressing that the duty hike to 50 percent in August last year was unjust and in violation of World Trade Organization rules, Dr. Yayan said that Turkish exporters will be able to conclude sales to the US of products for which they can get workable margins. He added that the next step should be to eliminate the 25 percent duty, otherwise Turkey’s $75 billion foreign trade target will not be achieved.
The TCUD official noted that the US has problematic relations with most of the world. “Negotiations with China and the EU are making very slow progress. We hope for a transition to normality from trade wars as soon as possible and we also expect the formation of market conditions from which all parties can benefit,” Dr. Yayan concluded.