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Effects of EU - USA Steel Tax Agreement on Turkish Steel Industry

03
November 2021

Thus, in the US market, EU manufacturers will have a 25 percent tax advantage over Turkish manufacturers. Our steelmakers will lose their chance to compete against EU companies. On the other hand, since we already have a quota in the EU market, our chances of benefiting from the EU market will decrease. With this decision, developed countries are developing free trade among themselves. They continue to protect and prevent countries like ours. In this case, it becomes very important for us to protect our domestic industry from external influences and unfair competition.

The US's removal of EU steel and aluminum taxes will not only affect the competitiveness of Turkey but also some other countries. It is obvious that an increase in the amount of steel imported from Europe may have an adverse effect on the exports of other countries. For this reason, some countries where the US imposes tariffs on steel imports under Article 232 are doing their best to sit down with the US to revise the rules. In addition, the measures aimed at stimulating the domestic demand in the steel industry, which has seen a rapid recovery this year, are gaining importance.

We hope that these and similar quotas applied against our country will be removed in a short time and we will continue on our way with confident steps as our competitive power increases. Stay healthy.

Effects of Covid 19 on the steel industry

The effects of the COVID-19 pandemic became visible in 2020. The disease, which has spread worldwide as of April 2020, in the production sector; This has caused problems such as slowdown or stoppage of production, decrease in production quality, deterioration of supply chains and decrease in demand for manufactured goods.

Industry News

In the January-May period, compared to the same period of 2018, exports amounted to 9.8 million tons with an increase of 20.4% in quantity and 7.2 billion dollars with an increase of 6.5% in value.