Turkey's Retaliatory Tariffs Took Effect June 21

New tariffs on goods from the U.S. exported to Turkey in response to Section 232 tariffs on steel and aluminum took effect on June 21, KPMG said on its website. An official June 25 notice from Turkey described the implementation of the new tariffs, a report from a KPMG firm in Turkey said. The new tariffs apply to the same subheadings listed in a World Trade Organization submission, though some of the tariff amounts differ, according to KPMG. "Retaliatory customs duty will be applicable on imports of US originated automobiles, whiskey, tobacco, coal, cosmetics, machinery equipment, paper and petrochemical products, etc.," the Turkish firm said. "Turkey will impose additional fiscal burden against various US origin goods between 4 percent to 70 percent. At the same time, [whiskey] and automobile importations will be subject to additional fiscal burden at the rate of 70% and 60% with an applicable highest rate."