Turkey responds to US sanctions with US$ 533 million additional taxes on US goods

Regarding US sanctions on imports from Turkey, Trade Minister RUHSAR PEKCAN said “We have doubled the 22-item tax rate on imports from the US, and thus responded with an additional tax amount of US$ 533 million on US goods”.

The Minister went on to say “Political differences and economic issues should be kept separate. The Turkish lira was adversely affected, but it is temporary. We are a country with growth potential and we are effectively overcoming economic attacks on our country.

We have doubled tax rate on 22 imported items from the US and retaliated with US$ 533 million additional tax. In the face of unfair operations of the United States, we will not refrain from protecting the rights of Turkish companies and we will retaliate as due.

Decision by the US to bring additional tax on iron and steel will also have negative impact on American exporters. The US is an important trade partner of ours, but not our only partner. We have other partners and alternative markets.