Turkey plans to export steel to Far East due to US sanctions
The US' import tariffs have restricted Turkish steel exports to the US, so Turkish steelmakers has transported its steel products with US$1.3 billion worth to the Far East, such as Hong Kong, Singapore, Philippines, Malaysia, and even South America.
Last year, around 2 million tons of steel exported to the US with US$1.3 billion worth, while in the first half of 2018, steel exports reached 800,000 tons with US$720 million worth.
Turkish annual steel production capacity was 50 million tons. Turkish government would formulate a crisis treatment for US import tariffs and plan to take legal proceedings if it was necessary.
