Turkey reduces duty by half on some imports from US

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A client grabs US dollars banknotes at a foreign exchange office in the centre of Ankara on May 25, 2018. / AFP PHOTO / ADEM ALTAN

Turkey has decided in a reciprocal move to reduce by half additional duty levied on 22 products originating in the US, the trade minister said on Wednesday, according to the state-run Anadolu news agency.

The move came after the US government announced that it had decreased tariffs on Turkish iron and steel imports to 25 percent from 50 percent last week.

“With this decision, duty levied on the aforementioned products originating in the US will be reduced from $521.2 million to $260.6 million,” Trade Minister Ruhsar Pekcan tweeted.

The list of products includes rice, alcoholic beverages, cosmetic products and some motor vehicles.

Turkey is continuing to work on eradicating all obstacles to bilateral trade and to achieve the targeted trade volume, she added.

In February Turkish President Recep Tayyip Erdoğan and US President Donald Trump set a goal of $75 billion in bilateral trade.

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