Economic review

Turkey says ready to impose retaliatory tariffs on U.S. imports

2018-06-06 06:40:42 (Beijing Time)         English.news.cn

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ANKARA, June 5 (Xinhua) -- Turkish Foreign Minister Mevlut Cavusoglu said on Tuesday that Ankara was ready to impose retaliatory tariffs on U.S. imports after the U.S. steel and aluminum tariffs.

According to local Hurriyet Daily News, Turkey is set to take countermeasures on U.S. products on June 21.

A total of 266.5 million U.S. dollar additional duties will be imposed on 22 items of the U.S. imports, including coal, paper, walnuts, almonds, tobacco, unprocessed rice, whiskey, automobiles, cosmetics, machinery, equipment and petrochemical products.

The highest additional customs duties will be imposed on whiskey and automobiles at 40 percent and 35 percent respectively, said the report.

In March, U.S. President Donald Trump announced to impose a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum, prompting a general criticism from many countries and causing turmoil in the global stock market.

Turkish Economy Minister Nihat Zeybekci warned earlier that his country could take retaliatory measures.

Zeybekci also said that Turkey and the EU decided to move together at the World Trade Organization platform against the United States.

Turkey is the world's eighth-largest steel producer and the sixth largest steel exporter to the United States after Canada, Brazil, South Korea, Mexico and Russia.