After Turkey decided to impose tariffs on nearly two dozen U.S. products as of June 21 in response to the additional steel and aluminum tariffs enacted by Washington, the country has now decided to increase the additional tariff rates on some of the goods imported from the United States.
According to the decision of the Council of Ministers published in the Official Gazette, Ankara has decided to increase additional tariffs on a number of products, including cars, whiskey, dried nuts, rice and unprocessed tobacco.
The additional tariffs rate on cars rose to 60 percent from 35 percent, in alcoholic beverages like whiskey to 70 percent from 40 percent, in rice to 25 percent from 20 percent, in dried nuts to 10 percent from 5 percent, and in tobacco to 30 percent from 25 percent.
The quasi-boycott has been introduced to increase the effectiveness of the retaliation. The price of products will be increased due to additional tariffs.
The European Union (EU) has also raised tariffs on whiskey, which is produced in the regions where President Trump won the most votes. As a result of the rise, the additional tariffs on alcoholic beverages will increase to $14.6 million from $8.3 million, the additional tariffs on automobiles will increase by $22 million, and the tariffs on dried nuts will double.
In March, Trump imposed a 25 percent tariff on imported iron and steel, aand a 10 percent tariff on aluminum - since then the issue has been heatedly discussed among the U.S. and its major trade partners.
Ankara announced last week it will start imposing tariffs on nearly two dozen U.S. products, ranging from cars to sunscreen as of June 21.
According to documents filed with the World Trade Organization (WTO) in March, Turkey slapped $267 million in tariffs on $1.8 billion worth of products that the U.S. exports to Turkey.
The U.S. tariffs come to $267 million on $1.1 billion in Turkish steel and aluminum shipments to the United States. Turkey responded by imposing tariffs on 22 U.S. products, including coal, paper, walnuts, almonds, tobacco, unprocessed rice, whiskey, automobiles, cosmetics, machinery equipment and petrochemical products.
"The total tariff burden being imposed by Turkey on the U.S. is commensurate with the additional costs Turkey faces due to the tariffs imposed on it by the U.S.," Economy Minister Nihat Zeybekci said in a statement last week. "They are proportional, measured and designed to protect Turkey's interests, while encouraging dialogue."
The U.S. tariff
s have been imposed on Europe, Canada and Mexico, some of its biggest trade partners since June 1, after their temporary exemptions expired.
The EU placed a 25 percent tariff on American products and Trump threatened to impose more tariffs on all European cars. Zeybekci, speaking about the investigation the U.S. has started into automobile imports to determine whether they "threaten to impair the national security" of the country, also said that Turkey would reciprocate if the U.S. takes any measure affecting Turkey.
The United States is the fifth largest country where Turkey exports its goods, and trade volume amounted to $20.6 billion in 2017, official data showed.