Turkey to retaliate against US protectionism with tariff on cosmetics

Turkey to retaliate against US protectionism with tariff on cosmetics

Turkey is set to give as good as it gets, responding to the US’ decision to impose tariffs on Turkish steel and aluminium imports with counter measures, according to a report published by AA.com quoting Economy Ministry sources.

Turkey will usher in US$266.5 million in duties on US products including cosmetics, machinery and equipment and petrochemical products.

President Trump signed off on a 25 percent tariff on imported iron and steel and a 10 percent tariff on imported aluminium in March. Turkey has thus far been unable to secure an exemption despite the Economy Minister, Nihat Zeybekci, and Prime Minister Mehmet Simsek’s best efforts.

The White House has agreed to delays for the EU, Canada and Mexico while South Korea, Argentina, Australia and Brazil have all negotiated deals, although details have yet to be disclosed.

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