ANKARA: The Turkish government recently announced it would impose a 3% duty on all U.S. cotton imports — claiming they damaged domestic output. The news came after China announced it will start selling off government owned stockpiles and causing world cotton prices to drop.
According to the USDA, around half of Turkey’s cotton imports came from the U.S. between 2012 and 2014 worth more than $915 million. House Ag committee chairman Mike Conaway recently made a statement saying, “The investigation was blatant retaliation, violated WTO procedure, and was anything but transparent. The findings are baseless and the duties should be dropped immediately.” The National Cotton Council explains their next steps in disputing the ruling.
