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Trump lowers tariff on Turkish steel to 25 percent

( May 16, 2019, 22:40 GMT | Official Statement) -- MLex Summary: The Trump administration announced it slashed the tariff rate on Turkish steel products to 25 percent, from 50 percent, assigning Turkey the same rate as other countries impacted by the national security measure imposed last year under Section 232 of the Trade Expansion Act of 1962. President Donald Trump made the adjustment because steel imports from Turkey have declined due to the higher tariff rate. "The Secretary has now advised me that, since the implementation of the higher tariff under Proclamation 9772, imports of steel articles have declined by 12 percent in 2018 compared to 2017 and imports of steel articles from Turkey have declined by 48 percent in 2018," the White House said in a proclamation.Statement follows below: ...

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