Tosyalı Holding chairman: Doubling of US duties has not affected our exports

Thursday, 03 January 2019 16:50:18 (GMT+3)   |   Istanbul

Tosyalı Holding board chairman Fuat Tosyalı has told Turkish news agency Anadolu Agency that Tosyalı was briefly affected by the doubling of the steel import duties by the US.

Mr. Tosyalı said that they sought alternative markets due to the increased import duties in the US and achieved an improvement in their export volume. He added that their sales to the US diminished to some extent, though they are now able to sell to the US thanks to the US dollar-Turkish lira exchange rate. Mr. Tosyalı underlined that neither their exports nor their production have declined because of the doubling of the US duties.

The Tosyalı Holding chairman also said that the company will start a new investment early this year in a new location to produce a new product that will replace imports.


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