In a Thursday statement, the White House said it had terminated a preferential trade agreement with Turkey, finding the country no longer needed help as a developing country. However, the US did halve tariffs on Turkish steel from 50% to 25%.
Noting that Turkey received the preferential treatment in 1975 under the Generalized System of Preferences (GSP), which allows products to enter the US duty-free, US President Donald Trump said in the proclamation, “I have determined that, based on its level of economic development, it is appropriate to terminate Turkey’s designation as a beneficiary developing country effective May 17, 2019.”