Reacting to recent US steel tariffs and quotas with implementation of Section 232, there has been major shifts in the Turkish steel exports to US market. As United States’ first temporary steel tariff exemption offered to EU and few other countries including Mexico comes to an end of 30th of April, it is uncertain how US government will take action on 1st of June. Based on latest statistics, Turkish steel imports to US have been declining. In February 2018, rebar exports to US experienced 38.5% year over year drop.
On the other hand, Turkish steel exports were up 39% year over year to EU during the first two months of 2018 with 413,387 tons. In 2017, Turkish hot rolled coil exports were up by 85% with 1.89 million tons, pointing out to stark contrast between EU and US as markets in terms Turkish steel exports.
Consequently, Turkish officials started an investigation to evaluate steel imports’ impact on local manufacturers. Steel producers in European Union will be exempted from Turkish investigation, which is expected to be completed within 9 months period.
Based on the announcement, investigation will look in to following products:
- alloy steel
- coated steel
- cold rolled steel
- hot rolled steel
- stainless steel products
- wire rod
HS codes included in the announcement were:
7208, 7209, 7210, 7211, 7212, 7213, 7214, 7215, 7216, 7217, 7219, 7220, 7225, 7226, 7227, 7228, 7302, 7303, 7304, 7305, 7306
Note: Tariff exemption on steel and aluminum for several countries including Canada, Mexico, EU was extended until 1st of June.