Turkey Says U.S. Scrapping Trade Deal Contradicts Goals
ANKARA (Dispatches) –The U.S. decision to end its preferential trade agreement with Turkey contradicts their $75 billion bilateral trade target, Minister of Trade Ruhsar Pekcan says.
The Trump administration terminated Turkey's preferential trade treatment that allowed some exports to enter the country duty-free, but it has halved its tariffs on imports of Turkish steel to 25 percent. Pekcan welcomed Washington's move to halve steel tariffs.
"Lowering the tariffs to 25 percent from 50 percent is positive, but we expect the lifting of all obstacles to bilateral trade," Pekcan wrote on Twitter, saying they affected US companies, too.
She said she would continue to boost the trade volume.
"Today Turkey is in favor of a sustainable and rules-based system in global trade just like it was yesterday."
Established in 1974 and having covered 120 countries, including Turkey, the GSP is the largest and oldest U.S. trade preference program. It allows "certain products” to enter the U.S. free of tariffs, given that the countries exporting them meet the criteria such as "providing the US with equitable and reasonable market access.”
Ties between the two countries remain tense over disagreements ranging from Washington’s support for Kurdish militants, which Ankara calls terrorists, and Turkey’s subsequent imprisonment of an American pastor.
The two sides are separately at odds over Washington’s refusal to extradite Fethullah Gulen, a Pennsylvania-based cleric accused of masterminding an abortive 2016 coup against the Turkish government.
The situation was not defused despite Turkey’s release of the pastor, whom it had detained over alleged links to anti-Ankara outfits.
The Trump administration terminated Turkey's preferential trade treatment that allowed some exports to enter the country duty-free, but it has halved its tariffs on imports of Turkish steel to 25 percent. Pekcan welcomed Washington's move to halve steel tariffs.
"Lowering the tariffs to 25 percent from 50 percent is positive, but we expect the lifting of all obstacles to bilateral trade," Pekcan wrote on Twitter, saying they affected US companies, too.
She said she would continue to boost the trade volume.
"Today Turkey is in favor of a sustainable and rules-based system in global trade just like it was yesterday."
Established in 1974 and having covered 120 countries, including Turkey, the GSP is the largest and oldest U.S. trade preference program. It allows "certain products” to enter the U.S. free of tariffs, given that the countries exporting them meet the criteria such as "providing the US with equitable and reasonable market access.”
Ties between the two countries remain tense over disagreements ranging from Washington’s support for Kurdish militants, which Ankara calls terrorists, and Turkey’s subsequent imprisonment of an American pastor.
The two sides are separately at odds over Washington’s refusal to extradite Fethullah Gulen, a Pennsylvania-based cleric accused of masterminding an abortive 2016 coup against the Turkish government.
The situation was not defused despite Turkey’s release of the pastor, whom it had detained over alleged links to anti-Ankara outfits.