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New Turkish law exempts Chinese car imports from additional tariffs

New Turkish law exempts Chinese car imports from additional tariffs BYD, China’s leading electric vehicle maker, amassed cars at the Taicang Port in Suzhou in February for shipping to Europe (AFP Photo)
By Newsroom
Jul 5, 2024 11:41 AM

A recent amendment has exempted imports of Chinese-origin cars from the 40% additional tariff initially imposed on June 7th.

According to a presidential decree published in the Official Gazette, vehicles imported under-investment incentive certificates will now be spared from this measure. The decree revises the previous decision, which imposed a 40% or $7,000 additional tariff, described as “additional financial obligations.”

Exemption introduced

Published in the Official Gazette, the decree modifies the application of additional customs duties on imports. Henceforth, Chinese-origin car imports under investment incentive certificates will be exempt from these additional financial obligations.

This decision took effect on July 5th.

What happened?

Earlier, a decision in the Official Gazette introduced a 40% additional tariff on Chinese-origin automobiles.

To enhance the domestic market share of locally produced vehicles and protect it, considering developments in the foreign trade balance and our current account deficit targets, while also aiming to promote domestic investment and production, today’s presidential decree dated June 7, 2024, number 8639, under Customs Tariff Position 8703, decided to impose additional customs duties on the import of conventional (internal combustion) and hybrid passenger cars originating from the People’s Republic of China, set at ‘40% of the import value or $7,000 per unit, whichever is higher

Ministry of Trade
Last Updated:  Jul 8, 2024 3:22 PM