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Turkey gives up quotas on Russian steel imports

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Turkey has terminated its special protecting probe on steel imports, particularly on steel products from Russia, without imposing restrictions, Russia’s Industry and Trade Ministry said in a statement on Tuesday.

Axar.az reports citing TASS.

"As a result of the investigation, the Turkish side made a unanimous decision to terminate the probe without imposing any restrictions due to the lack of a sharp and substantial growth of steel products imports to the Turkish market, and a serious damage or threat of inflicting such a damage to Turkish producers," Minister Denis Manturov was quoted as saying.

The work of Russia’s trade mission in Turkey has allowed "consolidating the efforts on preventing introduction of barriers against Russians steel products and maintaining Russian supplies to the Turkish market worth over $1.5 bln on average," the minister noted.

In April 2018, Turkey initiated a special probe regarding steel imports as the US’ move to impose tariffs on imported steel resulted in redirection of flows of products to Turkey. In October 2018, Turkey introduced temporary quotas, imposing an additional 25% duty on metal imports above the established quota.

Date
2019.05.07 / 22:34
Author
Axar.az
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