According to the Turkish Steel Producers Association (TCUD), Turkey's crude steel production rose 8% year on year to 3.5 million tons in October this year. In the first 10 months of this year, Turkey's steel import and export rate increased from 109% to 115% in the same period of the previous year.
The increase in the country's steel production is likely to continue in the next two months. Turkey's production increase was expected to be more than three times the increase in world steel production by the end of the year.
With the agreement between the USA and Europe regarding the tariffs of Article 232, protective measures in world steel trade started to decrease. TCUD claimed that Turkey's general foreign trade with the USA and EU countries is balanced. Therefore, the US should replace Article 232 with a tariff quota for Turkey and the EU should facilitate the existing quota system.
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