We use first party and third-party Cookies to help us understand Website usage and to improve the content and offerings and to provide you advertising, analytics and other purposes related to your navigation habits. If you continue scrolling, we consider you accept the policy. You can read more about our cookie policy.


The global fashion business journal

Dec 8, 20196:07am

United States ‘breaks’ with Turkey and finishes ‘zero tariffs’

In the middle of a pulse between both territories, Washington administration has excluded the Euroasian country from the Generalized System of Preferences (GSP).

May 28, 2019 — 4:45pm
MDS
Save

United States ‘breaks’ with Turkey and finishes ‘zero tariffs’ 

 

The United States gives an end to the zero tariffs of Turkey. In the middle of a political and economic tension between both territories, Washington governments has excluded Turkey from the Generalized System of Preferences (GSP), which allowed the entrance of Turkish products in the US without barely paying tariff rates.

 

This decision, which was taken by mid-March, has come into force now. The American executive justified this move arguing that Turkey already had an enough developed economy and was no longer needing this king of measure to be competitive, according to Just Style.

 

The United States designated Turkey as beneficiary of the GSP program in 1975. Now, Donald Trump’s administration considers that the increase of country’s per capita income within the last few years, as well as the drop of poverty index and exportations’ diversification, convert it in an advanced economy.

 

Regarding textile and confection, sector’s business association Ihkib, has highlighted that the impact will be minimum, because the industry does no longer need entrance preferences in the American market to be competitive in it.

 

 

 

Advertising
Comment
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...