US additional steel tariffs on Turkey to begin Aug. 13

TEHRAN, Aug. 11 (MNA) – The U.S.' additional tariffs on steel imports from Turkey will take effect on Aug. 13, the White House and Department of Commerce announced Friday.

"To further reduce imports of steel articles and increase domestic capacity utilization, I have determined that it is necessary and appropriate to impose a 50 percent ad valorem tariff on steel articles imported from Turkey, beginning on August 13, 2018," Trump said in a proclamation released by the White House.

Commerce Secretary Wilbur Ross said in a statement that Trump increased the tariff rate from 25 percent to 50 percent on imports of Turkish steel.

"Doubling the tariff on imports of steel from Turkey will further reduce these imports that the Department found threaten to impair national security as defined in Section 232," he added.

Trump said earlier on Twitter that he authorized the doubling of tariffs, noting that "aluminum will now be 20% and steel 50%. Our relations with Turkey are not good at this time!"

The White House and Commerce Department's statements did not mention the tariffs on aluminum.

Turkey’s steel exports were valued at $11.5 billion last year, accounting for 7.3 percent of its total exports worth $157 billion, according to the Turkish Steel Exporters’ Association.

The US was the top destination for Turkish steel exports in 2017, which were worth $1.1 billion.

Turkey came in sixth place among the countries the US imported steel from last year, while Turkish steel's share was 7 percent of total US steel imports.

ANADOLU/MNA

News Code 136598

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