Turkey imposes 40% tariff increase on Chinese vehicle imports to reduce imports and lower current account deficit.
Turkey will impose a 40% tariff increase on all vehicle imports from China in an effort to reduce imports and lower the current account deficit, with the minimum tariff set at $7,000. The move is part of the Turkish government's actions to combat inflation, which reached 75.5% in May, by implementing a tight monetary policy, strengthening its fiscal position, and narrowing the current account deficit.
June 08, 2024
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