The U.S. decision to end its preferential trade agreement with Turkey contradict...
ANKARA - The U.S. decision to end its preferential trade agreement with Turkey contradicts their $75 billion bilateral trade target, Trade Minister Ruhsar Pekcan said on Friday, but welcomed Washington’s move to halve tariffs on steel imports.
“Lowering the tariffs to 25% from 50% is positive, but we expect the lifting of all obstacles to bilateral trade,” Pekcan wrote on Twitter, saying they affected U.S. companies, too. She said she work would continue to boost the trade volume. Turkey was one of 120 countries that participate in the GSP, the oldest and largest U.S. trade preference program. It aims to promote economic development in beneficiary countries and territories by eliminating duties on thousands of products.
The currency stood at 6.0600 against the dollar at 1000 GMT, easing from a close of 6.0475 on Thursday.
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