An economic adviser to Turkish President Recep Tayyip Erdogan said on the 6th that Turkey is considering raising import tariffs on U.S. cotton in response to U.S. tariffs on imported steel and aluminum products. Decide.
U.S. President Donald Trump announced on the 1st that the United States will impose tariffs of 25% and 10% on imported steel and aluminum products respectively. The decision met with widespread opposition in the United States and abroad.
Turkey’s “National” published an article written by Erdogan’s economic adviser Cemil Etem on the 6th. The article said that Turkey was “preparing to respond to the United States with cotton,” but did not mention the extent of the tax increase.
Reuters reported that Turkey’s Ministry of Economy said it had informed European Commission Commissioner for Trade Cecilia Malmström of Turkey’s plan and that the two sides agreed to cooperate on this matter within the framework of the World Trade Organization.
Many textile companies in Turkey have business relationships with international apparel companies such as Sara, Nike, and Adidas. Turkish official statistics show that Turkey imported US$519 million in cotton from the United States in 2016.
Turkey is the eighth largest steel producer in the world and the sixth largest source of steel imports to the United States.
European Commission President Jean-Claude Juncker said on the 2nd that once the United States imposes additional tariffs on steel and aluminum products, the EU will introduce countermeasures, including targeting American-produced bourbon whiskey and Harley-Davidson motorcycles. Cars and Levi’s jeans are subject to import duties. (Title: Reciprocity? Turkey considers raising import taxes on U.S. cotton)
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