Turkey and the European Union have agreed to implement World Trade Organization rulings and recommendations related to import tariffs on Turkish steel, by January 16, 2023, the World Steel Association said this week.
The announcement follows the 2020 establishment of a WTO Dispute Panel to review a complaint from Turkey over EU safeguard measures on imports of certain steel products.
On April 29 2022, the WTO said the EU measures were inconsistent with the General Agreement on Tariffs (GATT) and needed to be realigned. And in May the WTO formally accepted Turkey`s complaints about the EU safeguard duties.
But on May 30, the European Commission decided to keep steel safeguard measures in place for a further two years, with certain adjustments to global quotas.
Turkey then imposed anti-dumping duties on hot-rolled coil from the EU and South Korea in July 2022.
And on August 9, the WTO said the reasonable time to implement recommendations and rulings on safeguard measures on certain steel products would expire on January 16, 2023.
Turkish steel market participants said adjusting the safeguard duties would help to increase demand from Europe, but added that the duties against Turkish steel still mean exports will be limited.
Turkey`s flat steel exports increased year on year in June after falling for the six months of 2022, according to the Turkish statistical Institute (TUIK).
Published by: Serife Durmus