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Turkey halves tariffs on US imports, matching Washington's move

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Turkey halves tariffs on US imports, matching Washington's move

Turkey halved the tariffs on 22 products imported from the U.S., reciprocating a similar move made by Washington last week.

The decision will reduce the additional duties levied on the said American products to $260.6 million from $521.2 million, Turkish Trade Minister Ruhsar Pekcan said in a series of tweets.

Turkey will work toward achieving the $75 billion trade volume target, Pekcan added.

The U.S. doubled its tariffs on Turkish steel and aluminum in August 2018, forcing Ankara to retaliate with additional tariffs on U.S. cars, alcohol and tobacco imports, Reuters reported.

Last week, Washington decided to cut those tariffs to 25% from 50%, while ending its preferential trade treatment for Turkey.