Turkey might get quota instead of 25 percent safeguard duty on trade to US

Friday, 20 September 2019 15:53:14 (GMT+3)   |   Istanbul
       

Turkish steel industry representatives are rather actively discussing the possibility of at least partly regaining their presence in the US market. Although nothing solid has been disclosed to the market yet, producers are hopeful for some discussions with the US authorities. Players generally share the expectations that the US might suggest substituting the currently valid 25 percent safeguard duty with a certain quota, although initially the mills would like the restriction to be completely removed. “The quota will for sure make business much easier but the whole issue is too early to talk about,” a major rebar exporter told SteelOrbis.

Producers hope that the authorities in both countries will come to an agreement, similar to what happened in the case of South Korea and Argentina. However, the situation with Turkey is rather vague. “I think this is a strictly political issue and has not much to do with our or their steel industry or the market or protecting their own production,” a trader said. As a result, the discussions might take a while, players believe.


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