Turkey will impose a 40% additional tariff on Chinese vehicle imports to stop a possible deterioration of its current account balance and protect domestic automakers, according to the country’s trade ministry, reports Reuters.
China is facing increasing trade pressures worldwide over its growing exports of electric vehicles, which many countries claim are being heavily subsidized by Beijing to support its sputtering economy. The European Commission is expected to announce next week whether to impose provisional extra tariffs.
The additional Turkish tariff will come into effect on July 7 and will be set at a minimum of $7,000 per vehicle, a presidential decision published in the country’s Official Gazette showed.