The EU planned to extend the steel safeguard measures for another three years, but the Turkish steel producers and exporters thought this decision violated the Free Trade Agreement (FTA).
The Turkish Steel Exporters' Association (CIB) surprised that the EU decided to postpone this measure for another three years. The association also forecasted that the EU was likely to conduct investigations on imported hot-dip galvanized flat products from Turkey and Russia, which will cause pressures on producers' quotations as the EU is the major market of Turkish hot-dip galvanized steel products.
The Turkish Steel Producers' Association (TCUD) stated the EU’s latest steel safeguard measures decision violated the FTA. The EU decided to negotiate with the US to remove trade barriers while they expanded barriers to Turkey.
Source: Yieh Corp |