Turkey’s July imports of US PVC plunges about 80%
Sept. 04, 2018
According to ChemOrbis Imports Statistics, Turkey’s imports of US PVC totaled only 1586 tons in July, which represented a steep fall of 79.2% compared to June when the figure was above 7500 tons. The figure also slumped by 88% from July 2017.
In July, the USA lost its ranking as the second largest PVC exporter of Turkey in the previous month and moved down to the 12th place. American PVC’s market share declined to as low as 2% from around 13% in June, additionally.
The plunge of imports of American PVC was not a surprise for market participants considering the retaliatory measures taken by Turkey against the US starting from May this year.
Back in March, the US Administration levied tariffs on steel and aluminum imported from Turkey. As a counter-measure, Turkey restricted the US goods imported under inward processing including PVC by around mid-May. Turkey’s Ministry of Economy put safeguard measures on selected products into force on June 21, with American PVC becoming subject to an extra 25% duty on the top of 6.5% customs and 18.81% anti-dumping duty.
According to a decree published on the Official Gazette on August 15, Turkey raised tariffs on 22 US products, while the tariffs on US PVC imported under HS code 3904.10 were increased to 50%.
In 2017, US had a remarkable market share of around 14% in Turkey’s import PVC market with total imports of more than 103,000 tons.