On October 12, 2024, Turkey announced the implementation of anti-dumping tariffs on hot-rolled steel imports from China, Russia, India, and Japan. This decision aims to protect domestic manufacturers amidst rising trade tensions between China and the European Union over tariffs on various goods.
The new tariffs will affect approximately 4 million tons of imported steel worth around $2 to $2.2 billion. The tariffs will range from 6.10% to 43.31% of the product's value, including insurance and freight costs.
The investigation into the hot-rolled steel imports indicated that alleged dumping practices could harm Turkey's domestic production. Specifically, tariffs on imports from China will range from 15% to 43%, while those from Russia, India, and Japan will vary between 6% and 9%.