Halit Harput | 26 Jun 2024

On June 8, 2024, the Turkish government imposed a 40% additional duty on all passenger vehicles imported from China. The government cited three motivations for this decision: 1) Reverse the declining share of domestic automobile production. 2) Reduce the current account deficit. 3) Encourage local investment. Ultimately, these tariffs are unlikely to revive local car production because Chinese producers can both absorb the tariffs and supply the Turkish market duty free via production plants in Europe.

×