Turkey is set to take retaliatory measures against the U.S. by June 21 over the latter's decision to impose tariffs on Turkish steel and aluminum imports.
Ankara's countermeasures will likely include $266.5 million in additional duties on the imports of 22 U.S. items, including coal, paper, walnuts, almonds, tobacco, unprocessed rice, whiskey, automobiles, cosmetics, machinery, equipment and petrochemical products.
The highest additional customs duties will be imposed on whiskey and automobiles at 40 percent and 35 percent, respectively, according to sources close to the matter. Turkey imported alcoholic beverages worth $21 million from the U.S. last year. Its automotive imports were valued at $87 million.
These measures will be followed by PVC imports with 32 percent in additional duty. The list also includes makeup products, plastic materials, synthetic cords and construction materials of iron and steel from the U.S. with 30 percent.
Turkey will also impose a 10 percent additional duty on its coal imports from the U.S., which represented its largest import item worth of $325.5 million last year.
A 5 percent additional duty will be imposed on petroleum coke product imports from the U.S., which became Turkey's second largest import item in the U.S. market with $291.6 million in 2017.
Dried nuts and fruits were Turkey's third largest import item in this market, worth $157.4 million. A 5 percent additional duty will also be imposed on these products.
In March, U.S. President Donald Trump imposed a 25 percent tariff on imported iron and steel, and a 10 percent tariff on aluminum imported from various countries, including Turkey.
In an application document to the World Trade Organization (WTO) on May 22, Turkey announced which items would be included on the country's countermeasure list worth $266.5 million.
Economy Minister Nihat Zeybekci has called the tariffs "unacceptable," noting that Turkey would take countermeasures soon.
According to the Turkish Statistical Institute (TurkStat), Turkey exported steel and steel goods worth $13.8 billion last year. Around 9 percent of the total exports, worth $1.2 billion, were made to the U.S. Turkey also exported aluminum worth $60 million to the U.S. in 2017.
