On Monday, October 14, 2019, United States President, Donald Trump, signed an executive order imposing immediate sanctions against Turkey after recent “destabilizing actions in northeast Syria,” read the White House released statement.
The sanctions include the immediate stop of negotiations on a $100 billion trade deal with Turkey, a full 50 percent tariff on steel imports that were only recently reduced to 25 percent this past May, and a “broad range of consequences, including financial sanctions, the blocking of property, and barring entry into the United States” for any individuals involved in the current military offensive in Syria.
“Turkey’s military offensive is endangering civilians, and threatening peace, security, and stability in the region. I have been perfectly clear with President Erdogan: Turkey’s action is precipitating a humanitarian crisis and setting conditions for possible war crimes.
As I have said, I am withdrawing the remaining United States service members from northeast Syria. As United States forces have defeated the ISIS physical caliphate, United States troops coming out of Syria will now redeploy and remain in the region to monitor the situation and prevent a repeat of 2014, when the neglected threat of ISIS raged across Syria and Iraq. A small footprint of United States forces will remain at At Tanf Garrison in southern Syria to continue to disrupt remnants of ISIS.
The United States will aggressively use economic sanctions to target those who enable, facilitate, and finance these heinous acts in Syria. I am fully prepared to swiftly destroy Turkey’s economy if Turkish leaders continue down this dangerous and destructive path.”
In August 2019, the Office of the United States Trade Representative reviewed Turkey’s activity in the Global Steel Trade Monitor:
- In 2018, Turkey exported 8.7 million metric tons of steel
- Export volume up 22% while export value up 40% from 2017 to 2018
- Top three markets: Italy, Israel, and Spain
- Largest producers: Erdemir Group, İçdaş, Tosyali Holding
- Turkey’s exports to Belgium increased by over 238 percent between 2017 to 2018
- Exports to the United States decreased in volume in 2018 — down 38 percent from 2017
As Green continues to monitor the situation, stay up-to-date on freight news by following us on Facebook, Twitter, and LinkedIn. For continuous updates, make sure to check out our website at greenworldwide.com.