Trump Cuts Tariffs on Turkish Steel Imports in Half, to 25%
(Bloomberg) -- The U.S. announced a rollback of steel tariffs against Turkey that it originally levied in August as trade and diplomatic relations deteriorated because of Turkey’s economic crisis and a row over the Turkish government’s detention of an American pastor.
The decision cuts in half the 50% tariffs paid on Turkey steel imports, leaving the 25% Section 232 levy, implemented March 2018, in place. Turkey told the World Trade Organization last year that levies on steel and aluminum shipments violated the rules of international commerce.
President Donald Trump tweeted on Aug. 10 that he authorized the doubling of tariffs on Turkey’s steel shipments in response to the depreciation of the lira against the U.S. dollar.
The pastor, Andrew Brunson, was freed by Turkey last October.
The White House statement that announced the reduction in the steel tariffs made no mention of separate levies on Turkish aluminum.
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