Sectors that play a critical role in Turkey’s exports and employment and rely heavily on stainless steel have issued a joint statement as the antidumping investigation initiated upon the request made by domestic producer Posco Assan nears its final stage. The non-governmental organizations (NGOs) emphasized that, under current conditions - where there is no domestic stainless steel production and the existing capacity is insufficient to meet national demand - any additional duty would severely affect production, employment and exports. The final decision in the investigation is expected to be announced within one month.
Industry representatives state stainless steel imports are essential, extra duties would have severe consequences
According to the joint statement, Turkish industries are compelled to import stainless steel since there is no domestic production.
Industry representatives warned that a decision resulting in an additional duty would lead to:
- production losses,
- nearly 300,000 job losses,
- a $1.5 billion decline in exports,
- inflationary pressure in the domestic market.
Stressing that the additional duty would trigger price increases across all products using stainless steel, with higher raw material costs cascading into consumer prices, the statement added that imposing an extra duty on top of the existing 12 percent customs duty on stainless steel would undermine competitiveness and make it impossible for stainless steel-using industries to remain viable.