Borusan Mannesman criticizes appeal decision on US Section 232

Friday, 16 July 2021 11:35:06 (GMT+3)   |   Istanbul

Turkey’s leading steel pipe producer Borusan Mannesmann criticized the US Court of Appeals for the Federal Circuit’s rule to reverse a finding that Donald Trump did not have the authority to raise Section 232 tariffs on Turkish steel from 25 percent to 50 percent. The company stated that it follows the process closely.

According to the new decision, Donald Trump has the authority to increase customs duties. The decision acknowledges that the president may “reevaluate various factors affecting US security interests” and this is only limited with Turkish steel industry.

In July last year, the US Court of International Trade ruled that Donald Trump’s decision to double tariffs on steel imports from Turkey was in violation of Section 232 regulations, as SteelOrbis previously reported. Borusan Mannesman expected to be paid $14 million back from the US customs authority as a result of this decision.