New tariffs on imported goods

The government has approved requests by industrialists to take protective measures against imported products that compete with similar local products. Industrialists consider these measures significant for their survival, as tens of manufacturers have closed due to dumping. It is also a step toward reducing the deficit in the trade balance. However, traders have rejected the decision, considering it dangerous to the economy.

PROTECTIVE MEASURES

The Cabinet has decided to impose a tariff ranging from ten to 20 percent on 20 imported products that are considered to be dumped and which are entering the country in large amounts at prices lower than, Minister of Industry. A special committee including the Ministries of Economy and Trade, Industry, Agriculture, and Customs have studied 24 cases regarding dumping. The four cases that were not protected by the new decision are sugar, foie gras, hunting cartridges, and meat. The decision will be effective after publication in the Official Gazette. The government also approved the imposition of a two percent tax on imported products excluding pharmaceuticals, electric and hybrid cars, and raw materials for industrial and agricultural products. “The two percent tax will require a law from the Parliament after the approval of the budget,” said , Minister of Economy and Trade. The 10 to 20 percent tariffs are effective for five years, and the two percent import tax till 2022.