According to the Turkish Steel Producers Association (TCUD), the Section 232 measures imposed by the US and the safeguard duty investigation launched by the EU against 26 steel products to protect its own market will cause distress to the Turkish steel industry.
“As well as the export volume loss, companies that will have difficulties in exporting to the US and the EU following the trade measures in these countries are likely to target Turkey. Issues regarding export volume loss and possible trade diversion to Turkey should be addressed immediately. Turkey’s rights arising from international law, the European Coal and Steel Community Free Trade Agreement and the Customs Union agreements should be protected”, the TCUD statement read.
According to the TCUD, recent developments indicate that 2018 will be difficult for the Turkish steel industry and that it will be hard to sustain the gains in production and exports in 2017. Accordingly, the TCUD said that steel consumers should be encouraged to turn to the domestic market for steel supplies and it is highly important that the domestic market should be protected through countervailing duty investigations and foreign trade policy means as export markets are being closed to Turkey.