Washington intends to stop treating Turkey preferentially in the area of trade, according to an announcement released from the United States Trade Representative’s Office on Monday.
In the statement, the Trade Representative’s Office noted that Turkey is now no longer eligible to be part of the ”Generalized System of Preferences” program, as Ankara ”is sufficiently economically developed.”
The United States began reviewing Turkey’s membership in the preferential trade program last August, after Ankara imposed tariffs on American goods in response to President Trump’s steel and aluminum tariffs.
President Trump notified the American Congress on his decision to end Turkey’s membership in the program on Monday, and the decision will come into effect no earlier than sixty days from now.
The “Generalized System of Preferences” is an American program of eliminating tariffs in order to assist the economic development of the countries which participate in it.
Turkey was among the 120 countries which participate in the program.
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