Sources: Turkey to Reduce US Import Tariffs This Week
Turkey’s Trade Ministry will implement a reciprocal reduction in tariffs on U.S. imports after the United States halved tariffs on Turkish steel imports last week, two Turkish sources said on Tuesday.
The White House last week terminated Turkey’s eligibility for the Generalized System of Preferences (GTS) program, in a move Turkey said contradicted trade goals, but also halved some of the tariffs it had raised last August amid a diplomatic row between the NATO allies.
The sources said the reciprocal reduction will halve tariffs on some U.S. imports, including passenger cars, alcoholic drinks, tobacco, cosmetics and PVC. The lowered tariffs will take effect with a presidential decree this week, the sources said.