Tariffs at the level of 6-43% of the CIF value will be applied to products originating in China, the Russian Federation, India and Japan
Turkey has decided to introduce anti-dumping duties on imports of hot-rolled steel (HRS) originating from China, India, Japan and Russia. This is stated in the Official Bulletin of the country dated October 11, 2024, Reuters reports.
According to the decision, the duties will range from 6.10% to 43.31% of the CIF (cost, insurance and freight) value. The highest tariffs were imposed on Chinese products, which were recognized as the most threatening for the Turkish market. Tariffs range from 15% to 43% for Chinese manufacturers, while tariffs range from 6% to 9% for imports from Russia, India and Japan.
The anti-dumping investigation was initiated following a complaint by local producers in October 2023. During the investigation, it was established that steel imports from the listed countries are carried out at dumping prices, which potentially threatens the development of national production in Turkey.
The introduced anti-dumping measures are aimed at protecting the domestic market from the negative impact of cheap imports, which could significantly reduce the competitiveness of Turkish manufacturers. For a long time, Turkish steel enterprises have emphasized the need for protection against dumping supplies from East Asia and the countries of the former USSR, which creates unequal conditions on the market.
The introduction of the steel tariffs coincided with worsening trade relations between China and the EU, particularly over tariffs on electric vehicles and other goods, as well as China’s complaint to the World Trade Organization over tariffs imposed on Chinese electric vehicles imported into Turkey.
Turkey has recently been struggling to deal with unfair competition arising from increasing imports of cheap goods, particularly steel, which is an important sector of the Turkish economy. In recent years, there has been an increase in steel imports from China and Russia, which leads to lower prices on the domestic market and negatively affects Turkish companies. The introduced tariffs aim to restore balance in the market and create a more level playing field for Turkish producers.
Products subject to customs tariffs fall under HS codes 7208, 7211, 7212, 7225, 7226.
As GMK Center reported earlier, the import of hot-rolled steel by Turkey in January-August 2024 decreased by 19.6% compared to the same period in 2023 – to 2.44 million tons. China increased its deliveries by 7.6% y/y – to 1.24 million tons, the Russian Federation – reduced by 58.5% y/y, to 220.37 thousand tons, Japan – by 77.8% y/y, to 87.04 thousand tons.
