Turkey hits United States with retaliatory tariffs

Cargo containers are seen stacked outside the container terminal of Jawaharlal Nehru Port Trust in Mumbai India

Cargo containers are seen stacked outside the container terminal of Jawaharlal Nehru Port Trust in Mumbai India

The country's Ministry of Economy said Thursday that it's imposing tariffs worth $267 million on USA goods, targeting items such as coal, paper, walnuts, tobacco, rice, whiskey and cars.

"Turkey is committed to active, robust and reciprocal trade relations with the US - but with the understanding that fairness can not be one-sided".

India and Turkey have begun implementing retaliatory tariffs against the United States, joining the European Union (EU), China, and other countries in adopting matching measures against US President Donald Trump's administration.

The tariffs will be imposed on imports of US coal, paper, walnuts, almonds, tobacco, unprocessed rice, whisky, automobiles, cosmetics, machinery equipment and petrochemical products.

Zeybekci called the tariffs "proportional, measured and created to protect Turkey's interests, while encouraging dialogue". Bloomberg reported that the tariffs impact 19 percent of the $9.4 billion in products the US sends to Turkey.

Turkey imposes retaliatory duties on American goods.

In a written statement, the ministry said the US and Turkey are important trading partners, and the positive impact of that relationship is clear, as Turkish commodities, including steel are crucial to many American industries and create many American jobs.

The Commission added that the counter-tariffs adopted earlier this month on 2.8 billion euros' (3.2 billion dollars') worth of American goods would become operational on Friday.

On Friday, the 28-nation European Union will start taxing a range of USA imports, including Harley-Davidson motorcycles and cranberries.

The United States enacted 25% tariffs on imported steel and 10% tariffs on imported aluminum in March.

Turkey intends to receive the fees of $267 million per year, this amount is equivalent to the one on which the U.S. claim due to the introduction of protective duties on Turkish steel and aluminium.

The U.S. tariffs have been imposed on Europe, Canada and Mexico, some of its biggest trade partners since June 1, after their temporary exemptions expired.

According to Turkish Statistical Institute (TurkStat) data, Turkey exported approximately $13.8 billion in steel and steel goods previous year, while $1.2 billion, about 9 percent of exports, was made to the U.S. The United States was Turkey's top market for steel in 2017.

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