The United States has deprived Turkey of trade preferences

The White House explained the refusal of Turkey’s trade privileges by the level of its economic development. Meanwhile, since the end of 2018, the country for the first time in ten years recorded a recession.

US President Donald Trump on Thursday, May 16, signed a proclamation proclaiming a number of economic measures against Turkey. Thus, the head of the White house ceased the regime of trade preferences, introduced in 1975. However, Trump reduced tariffs on a half (25%) on imports of Turkish steel.

“I decided that it would be advisable to deprive Turkey of the status of a developing country – a benefactor from May 17, 2019, taking into account the level of its economic development,” the American leader stressed.

Prior to that, Turkey was subject to a Single system of trade preferences, involving the reduction of duties on a number of goods. The revision of this policy began in August 2018 against the backdrop of growing tensions in bilateral relations.

Turkey’s conflict with the United States worsened in May 2019 against the background of Ankara’s planned purchase of Russian s-400 anti-aircraft systems. This intention is strongly opposed by the United States, since the use of the S-400, from Washington’s point of view, is incompatible with NATO’s defensive systems.

Author: Flyn Braun
Graduated from Cambridge University. Previously, he worked in various diferent news media. Currently, it is a columnist of the us news section in the Free News editors.
Function: Editor