August 3, 2018 / 9:32 PM / in 2 months

USTR reviewing Turkey's trade preferences after tariff retaliation

WASHINGTON, Aug 3 (Reuters) - The Trump administration is reviewing Turkey’s duty-free trade access to U.S. markets under the Generalized System of Preferences after Ankara imposed retaliatory tariffs on $1.78 billion of U.S. goods in response to American steel and aluminum tariffs.

The review could affect $1.66 billion worth of Turkish imports into the United States that benefited from the GSP program last year, including motor vehicles and parts, jewelry, precious metals and stone products.

The Office of the US. Trade Representative said the review is being conducted due to concerns about Turkey’s compliance with the program after it targeted only U.S. goods and not those of other countries. (Reporting by David Lawder; editing by Jonathan Oatis)

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