The Turkish Steel Exporters' Association (CIB) has stated that Turkey should be exempted from the US tariffs on steel ahead of March 23, the date for the start of exemption negotiations between the US and other countries, adding that otherwise Turkey will be out of the US steel market, which is one of the most important markets for its steel exports.
According to the CIB, Turkey aims to be exempt from the 25 percent duty on steel as a result of efforts made in cooperation with the Turkish Ministry of Economy.
As regards exemptions from the Section 232 tariffs, US president Donald Trump referred to three points that countries should take into consideration: imbalance in bilateral trade relations, steel trade with China and military spending. CIB chairman Namık Ekinci stated that Turkey’s steel imports from the US exceed its steel exports to the US and Turkey imports just a small amount of steel products from China, which are only used for its own needs. The last point requires developed countries to spend less on military expenditure than the US, which is not the case in Turkey as it is among developing countries; furthermore, even as a developing country, it makes an important contribution in ensuring the security of NATO members, added Mr. Ekinci, stressing that, in brief, the Turkish steel industry fulfills all the conditions that Trump has set for exemptions.
The CIB chairman stated that the CIS has done a very comprehensive study on Section 232 with representatives from the sector and has already shared this study with the Turkish Ministry of Economy and is expecting to meet with ministry officials this weekend or next week. Mr. Ekinci concluded that Turkey should take prompt action for negotiations with the US before March 23; otherwise the US steel market will be closed for Turkey and this means the loss of approximately 2.50 million mt of steel exports for Turkey, in a market environment where it is so difficult to find a new export destination for this volume.