The decision of the US President Donald Trump to abolish trade privileges for Turkey may lead to negative consequences for the US business, said Turkish Minister of Commerce Ruhsar Pekcan.

"Following the monitoring process going on since last August, the US government officially declared that it will terminate GSP designations for Turkey and India,” TRT Word reported quoting her tweet. “2/4  The value of US imports amounted to 20,9 billion $ under its GSP scheme in the first 11 months of 2018. With exports amounting to 1.74 billion $, Turkey was the fifth largest supplier to US with a share of 8.2%.”

"Unfortunately, this decision conflicts with our mutual objective of reaching a bilateral trade volume of $75 billion, that had been announced by both governments," Pekcan added.