Turkey: US trade move contradicts mutual trade goal

CNC
Added On March 8, 2019

Turkey's Trade Minister has said that Washington's decision to end Turkey's preferential trade status contradicts bilateral trade goals.
The U.S. announced its decision to end preferential trade treatment for Turkey and India on Monday.
In response, Turkey's Trade Minister Ruhsar Pekcan tweeted on Tuesday that the move contradicts the two countries' aim to increase bilateral trade to 75 billion U.S. dollars.
She also stressed that the decision will negatively affect small and medium-sized U.S. companies and manufacturers.
The U.S. Trade Representative's office said Turkey is no longer eligible to participate in its Generalized System of Preferences (GSP) program because "it is sufficiently economically developed".
Turkey was designated as a GSP beneficiary back in 1975.
Meanwhile, the minister added that Turkey will continue to seek increased bilateral trade with the U.S. as it sees Washington as a strategic partner.