On October 11, Turkey announced the imposition of anti-dumping duties on steel imports from China, Russia, India, and Japan, with the highest rates applied to China. The duties range from 6.1 percent to 43.31 percent of the cost, insurance, and freight prices, according to a statement from Turkey's Official Gazette.
The measures aim to mitigate unfair competition following complaints from domestic producers. An investigation into hot rolled steel imports indicated that dumping from these countries threatens Turkey's domestic production. Specifically, tariffs on Chinese steel imports range from 15 to 43 percent, while those on imports from Russia, India, and Japan are set between 6 and 9 percent.
Veysel Yayan, secretary-general of the Turkish Steel Producers Association, noted that the tariffs would impact approximately 4 million tons of steel products valued at over $2 billion. Following the announcement, shares of Turkish steelmaker Erdemir increased by 2.48 percent, while Isdemir rose by 2.2 percent.
This decision occurs amidst escalating trade tensions between China and the European Union over tariffs on various goods, including electric vehicles and cheese. Notably, China had previously lodged a complaint against Turkey regarding higher tariffs on electric vehicle imports.
While Turkey is not a member of the EU, it maintains significant trade relations with the bloc and is a NATO member. Analysts suggest that this move reflects a nuanced shift in Turkey's international relations. Sun Kuo-hsiang, a professor at Nanhua University, commented that Turkey is increasingly focused on protecting its economy while seeking support from Western allies amid domestic economic challenges.
Despite this, some experts caution against interpreting the tariffs as a definitive shift towards the West. Ding Shuh-fan, a professor emeritus at National Chengchi University, emphasized that Turkey's economic situation remains precarious and that the imposition of tariffs does not necessarily indicate a closer alignment with Western powers.
Turkey's complex international stance is further complicated by its NATO membership and historical ties with Russia. Chen Shih-min, an associate professor at National Taiwan University, highlighted Turkey's pursuit of an independent foreign policy, balancing its NATO obligations with its relationships with other nations.