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Trade Agreement Between Us And Turkey

Recently, the high level of the U.S. tax on steel and other goods has had a negative impact on the volume of trade between the two countries due to political conflicts. Like Graham, economists believe that a free trade agreement could work for the interests of both countries. WASHINGTON (Reuters) – The United States ended Turkey`s preferential trade treatment on Thursday, allowing some exports to enter the country duty-free, but halved its tariffs on Turkish steel imports to 25 percent. Despite political conflicts, the two countries retain strong trade potential, particularly in the context of the U.S.-China trade war, where Washington is seeking new partners to prevent the expansion of China`s global economy. The EU has decided to focus on bilateral trade agreements as an instrument for boosting growth, with the introduction of its new «Global Europe» trade strategy in 2006. In line with this strategy, the EU has begun negotiating free trade agreements with specific provisions on services, investment, public procurement and intellectual property rights, in order to increase/maintain its competitiveness in global markets. Turkey is preparing for such an environment. After starting and starting negotiations in parallel with the EU, Turkey is also adapting to all the issues covered in the agreements and negotiating next-generation free trade agreements with its potential partners. «If you ask me what the United States and Turkey could do to change relations for the better, it would be a free trade agreement – not only that more trade would reach $100 billion, but also to effectively integrate economies through a free trade agreement,» Graham said Wednesday at a conference hosted by the U.S. Economic Council and Turkey.

«In the export and manufacturing sector, a free trade agreement with the United States will bring enormous benefits to Turkey,» Vergil told TRT World. «Following a free trade agreement between the United States and Turkey, Chinese dominance in the African market could be shattered if we increase our production capacity and diversify our products,» Vergil said. The friendship between the United States and Turkey dates back to 1831, when the United States established diplomatic relations with the Ottoman Empire. After World War I and the creation of the Turkish Republic, the United States established diplomatic relations with the Republic of Turkey in 1927.

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