Türkiye imposes anti-dumping duties on US cotton
According to news from New York on April 18, the American Industry Trade Association said on Monday that Turkey announced the imposition of anti-dumping duties on U.S. cotton imports. At a time when global cotton prices and demand are both weak, this is not conducive to the relationship between the two countries.
The National Cotton Council (NCC) of the United States stated that Turkey will impose a 3% anti-dumping tariff on U.S. cotton imports, effective immediately. The basis for the imposition of anti-dumping duties is the landed price (CIF).
The market has long expected that Turkey will introduce anti-dumping tariffs. The Turkish Ministry of Economy stated in February that U.S. cotton would hurt Turkey’s domestic cotton textile industry.
The National Cotton Federation of the United States vowed to fight back through the World Trade Organization (WTO) and the Turkish courts. It also warned that this would put American cotton at a disadvantage in competition with cotton from other countries and jeopardize the trade relationship between the United States and Turkish cotton textile companies. .
Turkey is the second largest export destination for U.S. cotton, with annual export volume ranging from 1.5 to 2 million bales.
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