President Donald Trump of the United States will impose a 25% tax on steel and aluminum. These additional taxes will come into effect as of March 3. It is still unknown how this decision will impact Turkey. Industry officials state that the effects on Turkey will become clear once the tax is implemented.

President Donald Trump continues to increase import taxes.

With his latest decision, a 25% tax will be imposed on steel and aluminum imported into the United States regardless of the country of origin.

President Trump signed the decree in the Oval Office. It was stated that the decision will come into effect on March 3. Trump will not grant any country special privileges in this regard.

TURKEY’S TAXES WERE NOT LIFTED The Secretary General of the Steel Producers Association, Veysel Yayan, stated, “Steel and aluminum are intensively used in manufacturing and automotive industries. This is a measure aimed at protecting their own industrialists. They also want to use this as an instrument to meet demands in other areas.” Trump had also imposed a tax on steel and aluminum during his first term. This tax had included many countries, including the European Union, China, and Turkey. Joe Biden, however, lifted the tax for most countries when he took office. Yet, the tax continued to be applied to Turkey.

THE IMPLEMENTATION METHOD OF THE TAX WILL BE DETERMINANT

It is still unknown how the steel tax will affect Turkey. Yayan stated, “If the 25% tax is equalized with us, even without the tax being lifted, we might feel good. But if they do it in terms of a customs duty in addition to protection measures, it will double the 25% for us. We are waiting to see which one it will be.” The US already applies an additional 2% tax on Turkish steel.