ANKARA: Turkey’s Trade Ministry will implement a reciprocal reduction in tariffs on U.S. imports this week, after the United States halved tariffs on Turkish steel imports, two Turkish sources said Tuesday. The U.S. had doubled tariffs on Turkish steel and aluminum imports last August amid a diplomatic row between the NATO allies that accelerated a fall in the lira. Turkey retaliated by doubling tariffs on U.S. cars, alcohol and tobacco imports.
The White House halved those tariffs last week in a rare positive development between Washington and Ankara, but terminated Turkey’s eligibility for the Generalized System of Preferences program, a move Turkey said contradicted trade goals.
The sources said Tuesday that Turkey would halve tariffs on passenger cars, alcoholic drinks, tobacco, cosmetics and PVC, or polyvinyl chloride. The lowered tariffs will take effect this week with a presidential decree, the sources said.
A version of this article appeared in the print edition of The Daily Star on May 22, 2019, on page 4.