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US President Donald Trump decided to cancel the preferential trade regime with Turkey, Reuters reported

The White House said it was appropriate to terminate Turkey’s eligibility to participate in the Generalized System of Preferences (GSP) program, based on its level of economic development. The decision is effective May 17, it added.

Last August, Washington threatened Ankara with retaliatory measures for imposing duties on US goods Jeffrey Gerrish, the deputy head of the US trade mission, said that tariffs for the supply of goods from the US, affecting imports in the amount of $ 1.78 billion, could be the reason for such a decision.

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