According to a statement published in the country’s Official Gazette, Turkey has imposed additional import duty on 800 products. These include some flat steel products and pipe products. The additional duty rates will be implemented in two stages, effective from May 20 to September 30, and as of October 1.
Hot rolled flat products under the codes 7208.90.80.10 and 7208.90.80.20 will be subject to a 14 percent duty rate until September 30 and a nine percent duty rate after October 1. Until September 30, cold rolled coil products under the code 720990802919 will be subject to 10 percent duty and alloys and flat products under the code of 722599000090 will be subject to an 11 percent duty rate. These products will be subject to five percent and six percent duty rates after October 1, respectively.
On the other hand, the additional customs duty to be applied on alloy wire products under the codes 722920000012, 722990500012 and 722990900012 has been determined as 10 percent until September 30 and five percent as of October 1, while pipe products, including hollow sections, under the codes 7304 and 7306, will be subject to a 10 percent duty rate until September 30 and a five percent rate as of October 1.
Imports of the products in question have a very small share in Turkey's total steel imports, and so the additional duties are not expected to significantly affect the market. There are no essential import products among the products with additional duty, especially on the flat steel side, SteelOrbis understands.