Türkiye has imposed anti-dumping duties on imports of certain steel products from four countries at once, reports Daily Sabah. Among them is Russia.
Veysel Yayan, Secretary General of the Turkish Steel Association (TÇÜD), said that the country has imposed duties on imports of certain steel products from Russia, China, India, and Japan all over the world.
According to him, the imposed duties apply to about 4 million tons of imported products with an estimated value of USD 2 to 2.2 billion.
The duties range from 6.10% to 43.31% of the cost, insurance, and freight, a move designed to prevent unfair competition following complaints from domestic producers, the announcement said. The investigation into the import of hot-rolled steel, which was conducted after a complaint from Turkish producers, showed that the alleged dumping threatened domestic production.
According to the decision, the import duties vary:
-
from China - from 15% to 43%,
-
from Russia, India, and Japan - from 6% to 9%.
Yayan expects an increase in the utilization of domestic producers' capacities after the introduction of anti-dumping duties on imports of hot-rolled steel.
Ankara's decision comes amid rising trade tensions between China and the European Union over tariffs on electric vehicles, brandy, and other goods.
It also follows China's complaint to the World Trade Organization (WTO) against import duties imposed on Chinese electric vehicles imported into Türkiye.
