Turkey imposes anti-dumping duties on Asian and Russian steel

14/10/2024 04:55 - 142 Views

Turkey has imposed anti-dumping duties on imports of hot-rolled steel from China, Russia, India and Japan to protect domestic producers. This was reported by Daily Sabah, according to UNN.

The duties apply to about 4 million tons of imported products worth approximately USD 2-2.2 billion.

The new duties will range from 6.10% to 43.31% of the cost, insurance and freight. This is a step aimed at preventing unfair competition following complaints from domestic producers.

Ankara's decision comes amid rising trade tensions between China and the European Union over tariffs on electric cars, brands and other goods.

An investigation into hot-rolled steel imports showed that the alleged dumping of steel could have harmed domestic production.

According to the decision, duties on imports from China range from 15% to 43%, while duties on imports from Russia, India and Japan range from 6% to 9%.

Source: UNN