Interesting developments are taking place in global trade. While the US undermines the liberal trade system by putting additional tariffs on steel and aluminium imports, the effects of these practices on the third countries are being discussed. IKV Chairman Ayhan Zeytinoğlu stated that additional tariffs, which have been implemented as of today, will adversely affect Turkish exporters, and appealed to competent authorities:

“The additional tariffs imposed on the steel and aluminium by Trump’s decision affects all producers and exporters adversely. These tariffs, which mainly target China and likely to start a trade war, also affect Turkey adversely, which is the eighth biggest steel producer of the world and is located between the top ten aluminium producers. Lastly, the US declared that the EU, Australia, Argentina, South Korea and Brazil would be exempted from these tariffs in addition to Canada and Mexico.”

Zeytinoğlu stressed that Turkey should also increase its efforts to get an exemption from the new tariffs for the future of steel and aluminium sectors, and attracted attention to the Customs Union in this context:

“EU countries received exemption from the tariffs which will be applied on steel and aluminium. This is an important acquisition. We expect Trump to announce the relevant decision today. Turkey is also a country which has the Customs Union with the EU and implements the EU’s common customs tariff and trade policy. We need to make every effort to ensure that this exception is implemented for Turkish companies as well. One of the most important pillars we have is the Customs Union. Turkish industrial goods also benefit from the free movement in the EU market due to the Customs Union. Therefore, a Turkish product exported to the US should logically be treated as an EU product. That is why; we expect for the necessary steps to increase the initiatives in the US and the EU, and for our producers to not become victims.”