Turkey informed the World Trade Organization that custom duties could be imposed on steel imports from the EU, S&P Global Platts learned from Veysel Yayan, general secretary of Turkish Steel Producers’ Association (TCUD) Wednesday. The possible move would be in response to the EU’s imposition of additional measures against imports of Turkish steel.
The EC recently launched an anti-dumping investigation into imports of certain hot-rolled flat products from Turkey following a request by Eurofer for the action, as Platts has reported.
Turkey is planning to impose additional duties ranging from 9% to 17% on some flat-rolled products, non-alloy bars and angles from the EU region, under HS codes: 7208, 7209, 7210, 7211, 7212, 7214, 7215 and 7216, in an effort to balance trade between the parties.
Turkey has 30 days to suspend, change and impose the stated addional duties, according to article 8.2 of the Safeguard Measure agreement, Yayan told Platts.
After becoming a net HRC exporter in 2018 due to strong EU demand, especially from southern Europe, Turkey flipped to being a net HRC importer in 2019 as trade barriers notably restricted Turkish HRC exports, especially due to the EU quotas.
According to Turkish Steel Exporters’ Union (CIB) data, domestic mills’ steel exports to the EU fell 30% in the first quarter, while European mills’ steel exports to Turkey doubled in the period.
Turkish mills have been holding negotiations with the Turkish Trade Ministry over potential action against the EU, based on the principle of reciprocity, as Platts has reported.
— Cenk can