Published On: Tue, Jun 5th, 2018

Turkey’s steel manufacturers concerned about protection measures by USA and EU

Steel manufacturers concerned about protection measures by USA and EU

Turkey’s Steel Manufacturers

 

Steel Producers’ Association of Turkey stated that the Turkish steel sector was likely to be affected by protection measures implemented by USA and EU in terms of production and exports. In the statement made by Association of Turkey’s Steel Manufacturers (TÇÜD) it was reminded that the USA had taken decision to apply 25 and 10 percent customs duty for steel and aluminum imports respectively and EU had launched an investigation regarding importation of 26 steel products following said decision.

It was also reminded in the same statement that the USA had officially ended the tax exemption for Canada, Mexico and the EU as of 1 June 2018 and said countries had strengthened their policies to protect their domestic markets.

The statement pointed out that the EU had launched an investigation into the implementation of safeguard measures to ensure normal trade flows following the US decision, the following was noted:

“As a result of these developments, it is likely that the Turkish steel industry will be affected by the protection measures of the USA and the EU, in terms of production and exports.”

“Due to uncertainties caused by such practices in the markets the quantity of steel exports has been declining for 2 months. In case same conditions prevail the downward trend in exports for the rest of 2018 is in question.

For the protection of production, it is essential that our domestic market is protected against traffic distortion in steel trade and unqualified products likely to cause unfair competition.”





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