US steel tariffs cannot last, say Turkish steel exporters
"The U.S. made a similar decision before, but they could [make it last] just for 11 months," Namik Kemal Ekinci told Anadolu Agency.
On Thursday, President Donald Trump announced that the U.S. would impose a 25 percent tariff on imported steel and a 10 percent tariff on aluminium imports as of next week.
The U.S. boasts the capacity to produce 82 million tons of steel annually and wants to raise that number to 90 million, Ekinci stated.
He added: "It cannot reach this target immediately. The U.S. will continue to import steel and exporter countries will adjust their prices accordingly."
"Trump is carrying out his election promises for the U.S. steel producers but his decision cannot be executed for a long time because there will be turmoil in the country's domestic market," he said.
He underlined that the decision covered all countries that exported steel to the U.S.
Jean-Claude Juncker, president of the European Commission, called the move "a blatant intervention" to protect U.S. industry".
"We strongly regret this step, which appears to represent a blatant intervention to protect the U.S. domestic industry and not to be based on any national security justification," Juncker said Thursday. ■