The US decision to terminate the preferential trade deal with Turkey contradicts the goal of Washington with respect to bilateral trade in the amount of $ 75 billion, Trade Minister Ruhsar Pekcan said on Friday.
The minister welcomed Washington's move to halve tariffs on steel imports, Reuters reported.
“Lowering the tariffs to 25% from 50% is positive, but we expect the lifting of all obstacles to bilateral trade,” Pekcan wrote on Twitter, saying they affected U.S. companies, too. She said she work would continue to boost the trade volume.
The US President Donald Trump made a decision on May 17 to cancel the preferential trade regime with Turkey, operating under the General System of Preferences.
In addition, the statement added that Trump notified the US Congress and the Turkish authorities about this decision on March 4 of this year. The President noted that over the past 45 years, during which Turkey has been receiving benefits in the framework of the GSP, its economy has grown and diversified.
Last August, Washington threatened Ankara with retaliatory measures for imposing tariffs on American goods. Jeffrey Gerrish, Deputy Head of the United States Trade Representation, said that the reason for such a decision could be the tariffs imposed by Turkey on the supply of goods from the US, affecting imports in the amount of $ 1.78 billion